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Chamber backs horizontal tax exemption

Acadiana Business -- The state of Louisiana allows for the suspension of severance taxes due on production from horizontal and deep wells through a two-year tax exemption or until payout of qualified costs, whichever comes first, and the Greater Lafayette Chamber of Commerce announced Wednesday that it supports keeping the incentive in place.

In the mid-1990s the state Legislature approved a severance tax exemption for horizontal drilling in an effort to incentivise the use of that new technology. Proponents of the exemption stress that it provides economic incentives to drill capital-intensive oil and natural gas wells and to continue production from marginal wells. ..the incentive has resulted in a significant economic impact to the state of Louisiana, including the creation of more than 60,000 jobs that ha

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Submitted Dec 05, 2012 By: DellDude2

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honda0105 Champion Author Tallahassee Posts:18,610 Points:1,608,545 Joined:Nov 2008	Message Posted: Dec 8, 2012 5:34:44 AM Ignore honda0105 Report Abuse we know the Pig Oil has politicians in the back pocket. Esp. in a state as heavily invested in oil as Louisiana.
tomok Champion Author Portland Posts:32,995 Points:2,345,510 Joined:Aug 2006	Message Posted: Dec 6, 2012 5:26:30 AM Ignore tomok Report Abuse Chamber backs horizontal tax exemption, whatever works the best to have more jobs for the state because there will be NO help from Sneekys administration. Just make sure the companies involved pay their fair share of taxes, etc. Whatever the size or shape of the vehicle, vehicle manufactures Produce and the population ‘Drives’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high! XII/XXII/MMXII!
iFueler Champion Author Durham Posts:64,378 Points:178,525 Joined:Nov 2012	Message Posted: Dec 6, 2012 2:05:04 AM Ignore iFueler Report Abuse horizontal drilling is now commonplace
VikingWoman Champion Author Washington Posts:1,265 Points:251,665 Joined:May 2012	Message Posted: Dec 6, 2012 1:22:41 AM Ignore VikingWoman Report Abuse I'm sure Louisiana needs more sinkholes and it appears these incentives will ensure drillers won't be responsible when property is swallowed up.
melvindale Champion Author Michigan Posts:1,438 Points:351,230 Joined:Jun 2011	Message Posted: Dec 6, 2012 12:02:08 AM Ignore melvindale Report Abuse Since the exemption was to get drillers to use the techniques, the exemption should be over with, as horizontal drilling is now used as much as it ever will and no tax increase will stop its use.
bvrbill Champion Author Eugene Posts:3,217 Points:517,775 Joined:Jul 2011	Message Posted: Dec 5, 2012 11:55:29 PM Ignore bvrbill Report Abuse Every community needs to do what is right.
jrsva Champion Author Virginia Posts:9,852 Points:1,612,250 Joined:Jan 2006	Message Posted: Dec 5, 2012 11:55:22 PM Ignore jrsva Report Abuse Horizontal tax exemption? Does that mean your income is exempt if you lie down on the job?
southrob Champion Author Tucson Posts:3,595 Points:687,200 Joined:Mar 2011	Message Posted: Dec 5, 2012 11:50:53 PM Ignore southrob Report Abuse we need to drill
BoerneWatch Champion Author San Antonio Posts:15,536 Points:2,452,965 Joined:Oct 2005	Message Posted: Dec 5, 2012 11:50:48 PM Ignore BoerneWatch Report Abuse It would be nice if they did that in Texas but with the boom going on Texas is raking in the taxes.
SavALot Champion Author Virginia Beach Posts:8,469 Points:1,710,860 Joined:Apr 2005	Message Posted: Dec 5, 2012 11:50:28 PM Ignore SavALot Report Abuse Horizontal drilling on the horizon
Gassed01 Champion Author Toronto Posts:6,349 Points:1,801,815 Joined:Jan 2006	Message Posted: Dec 5, 2012 11:50:01 PM Ignore Gassed01 Report Abuse Jobs, but at tax payer expense. Governments everywhere. STOP THROWING OUR MONEY TO THE WIND! Let businesses stand on their own, make it easier to run businesses from a tax and paperwork perspective.
silverfox63 Champion Author Michigan Posts:8,115 Points:1,610,740 Joined:Oct 2008	Message Posted: Dec 5, 2012 11:49:11 PM Ignore silverfox63 Report Abuse Makes no sense at all.
bhb2009 Veteran Author Flint Posts:288 Points:764,285 Joined:Jul 2009	Message Posted: Dec 5, 2012 11:46:13 PM Ignore bhb2009 Report Abuse jobs or robs
bobdec Champion Author Miami Posts:8,959 Points:1,768,845 Joined:May 2008	Message Posted: Dec 5, 2012 11:37:47 PM Ignore bobdec Report Abuse Not good
Prodaddy Champion Author Houston Posts:8,375 Points:1,894,210 Joined:May 2007	Message Posted: Dec 5, 2012 11:36:45 PM Ignore Prodaddy Report Abuse This is crazy
goldrose1 Champion Author Cleveland Posts:10,936 Points:1,924,605 Joined:Feb 2005	Message Posted: Dec 5, 2012 11:35:10 PM Ignore goldrose1 Report Abuse hmmm that.
Piggy1959 Sophomore Author Fort Worth Posts:166 Points:110,495 Joined:Aug 2012	Message Posted: Dec 5, 2012 11:31:17 PM Ignore Piggy1959 Report Abuse I'm still not ready to move to Louisiana.
preacherjohn Champion Author Modesto Posts:3,986 Points:1,918,805 Joined:May 2006	Message Posted: Dec 5, 2012 11:30:44 PM Ignore preacherjohn Report Abuse Good for them.
MINIWINI598 Champion Author Washington Posts:3,012 Points:517,725 Joined:Dec 2011	Message Posted: Dec 5, 2012 11:29:02 PM Ignore MINIWINI598 Report Abuse interesting...
abcdMA Champion Author Worcester Posts:7,922 Points:1,574,980 Joined:Nov 2008	Message Posted: Dec 5, 2012 11:27:46 PM Ignore abcdMA Report Abuse Interesting, i think
charg3rguy1991 All-Star Author Greensboro Posts:756 Points:242,715 Joined:Sep 2012	Message Posted: Dec 5, 2012 11:27:08 PM Ignore charg3rguy1991 Report Abuse K
Spankster85 Champion Author Chicago Posts:1,724 Points:356,090 Joined:Nov 2011	Message Posted: Dec 5, 2012 11:25:37 PM Ignore Spankster85 Report Abuse What a joke.
bearzz Champion Author California Posts:1,427 Points:418,695 Joined:Mar 2011	Message Posted: Dec 5, 2012 11:25:33 PM Ignore bearzz Report Abuse Meh . . .
nwsynthetics Champion Author Oregon Posts:1,014 Points:345,675 Joined:Dec 2011	Message Posted: Dec 5, 2012 11:25:21 PM Ignore nwsynthetics Report Abuse hmmm
ramshot412 Champion Author Riverside Posts:20,147 Points:2,465,490 Joined:Apr 2004	Message Posted: Dec 5, 2012 11:22:03 PM Ignore ramshot412 Report Abuse whatever
KhelbenArunson Champion Author Michigan Posts:4,441 Points:716,890 Joined:Apr 2008	Message Posted: Dec 5, 2012 11:22:01 PM Ignore KhelbenArunson Report Abuse Booo
BREW9 All-Star Author Tampa Posts:881 Points:2,911,980 Joined:Jun 2004	Message Posted: Dec 5, 2012 11:20:44 PM Ignore BREW9 Report Abuse ok
suzmar Champion Author Texas Posts:2,212 Points:871,990 Joined:Jun 2006	Message Posted: Dec 5, 2012 11:19:10 PM Ignore suzmar Report Abuse It makes sense to incentivize industries that create jobs and boost the economy.
jimmy544 Champion Author Boston Posts:4,104 Points:652,880 Joined:Feb 2011	Message Posted: Dec 5, 2012 11:16:54 PM Ignore jimmy544 Report Abuse The chamber of commerce hates all taxes and never met a subsidy they didn't like.
WIPACKERFAN Champion Author Chicago Posts:8,799 Points:1,842,475 Joined:Aug 2005	Message Posted: Dec 5, 2012 11:16:22 PM Ignore WIPACKERFAN Report Abuse OK
FortVancouver01 Champion Author Washington Posts:1,165 Points:287,070 Joined:Jul 2012	Message Posted: Dec 5, 2012 11:15:45 PM Ignore FortVancouver01 Report Abuse No surprise since the Chamber has become the lobby arm for the industry.
crmedic Champion Author Arkansas Posts:2,658 Points:223,925 Joined:Jul 2011	Message Posted: Dec 5, 2012 11:14:23 PM Ignore crmedic Report Abuse Works for me if it will lower my fuel prices!
wayoung56 Champion Author Alabama Posts:2,800 Points:818,335 Joined:Oct 2006	Message Posted: Dec 5, 2012 11:11:06 PM Ignore wayoung56 Report Abuse Hmmm...
dasimon All-Star Author Florida Posts:556 Points:573,050 Joined:Mar 2011	Message Posted: Dec 5, 2012 11:10:40 PM Ignore dasimon Report Abuse Ok
Lukus Champion Author Halifax Posts:8,279 Points:1,674,375 Joined:Nov 2007	Message Posted: Dec 5, 2012 11:09:33 PM Ignore Lukus Report Abuse Oil and gas companies already are getting enough subsidies.
biza4u Champion Author New Haven Posts:8,518 Points:1,626,925 Joined:Jan 2007	Message Posted: Dec 5, 2012 11:08:38 PM Ignore biza4u Report Abuse ok
OOXXFF Champion Author Greensboro Posts:3,058 Points:1,078,430 Joined:Sep 2009	Message Posted: Dec 5, 2012 11:04:04 PM Ignore OOXXFF Report Abuse More welfare for big rich oil.
mcmonsta Champion Author Honolulu Posts:3,227 Points:817,795 Joined:Sep 2009	Message Posted: Dec 5, 2012 10:59:54 PM Ignore mcmonsta Report Abuse why give more away...it benefits the business that is probalbly making a ton of cash already
MadTraveler Champion Author Idaho Posts:2,082 Points:572,100 Joined:Nov 2009	Message Posted: Dec 5, 2012 10:57:09 PM Ignore MadTraveler Report Abuse No
SteveSeattle All-Star Author Seattle Posts:544 Points:171,185 Joined:Apr 2007	Message Posted: Dec 5, 2012 10:54:50 PM Ignore SteveSeattle Report Abuse ok.
weenerdog Champion Author Detroit Posts:9,456 Points:1,883,915 Joined:Jan 2008	Message Posted: Dec 5, 2012 10:52:47 PM Ignore weenerdog Report Abuse exempt consumers from taxes too
Blue48 Champion Author Illinois Posts:7,305 Points:1,637,945 Joined:Feb 2007	Message Posted: Dec 5, 2012 10:51:19 PM Ignore Blue48 Report Abuse OK!
WIWalt Champion Author Wisconsin Posts:1,726 Points:415,545 Joined:Mar 2012	Message Posted: Dec 5, 2012 10:50:54 PM Ignore WIWalt Report Abuse I agree with AKmailman How about a tax exemption for drivers ?
jorod55 Champion Author California Posts:1,475 Points:430,975 Joined:Dec 2011	Message Posted: Dec 5, 2012 10:49:24 PM Ignore jorod55 Report Abuse If they want a tax break then they should be forced to give us a pump break.
camel1 Champion Author Minnesota Posts:8,265 Points:2,265,640 Joined:Jul 2006	Message Posted: Dec 5, 2012 10:48:18 PM Ignore camel1 Report Abuse do taxpayers really need to subsidize the oil industry?
walkingtall Champion Author Toronto Posts:3,994 Points:1,120,705 Joined:Nov 2004	Message Posted: Dec 5, 2012 10:45:32 PM Ignore walkingtall Report Abuse Whatever it takes.
Bearworld Rookie Author Dallas Posts:77 Points:182,700 Joined:Aug 2012	Message Posted: Dec 5, 2012 10:45:07 PM Ignore Bearworld Report Abuse Less money from them and more money from us that seem really fair.
hcivic Champion Author Virginia Posts:3,849 Points:2,264,740 Joined:Aug 2005	Message Posted: Dec 5, 2012 10:40:55 PM Ignore hcivic Report Abuse Big business should have someone reading the responses on this site. Maybe, just maybe, then they would have a change of heart.
lolobond All-Star Author New Orleans Posts:724 Points:619,935 Joined:Dec 2010	Message Posted: Dec 5, 2012 10:39:45 PM Ignore lolobond Report Abuse Another one.
Tekkersmom57 Champion Author Syracuse Posts:1,874 Points:700,215 Joined:May 2010	Message Posted: Dec 5, 2012 10:36:41 PM Ignore Tekkersmom57 Report Abuse Doesn't Big Oil get enough tax breaks?