Election Day Tomorrow...Tuesday.
Posted by bernell on November 3, 2014
Mississippi's General Election is Tuesday, November 4. Remember to Vote!
Louisiana's 1st Primary is Tuesday, November 4. Again, Remember to Vote!
Don Briggs of the Louisiana Oil and Gas Association (LOGA) sent out a specific request for folks in Louisiana to consider tomorrow.
I don't think he will mind me sharing it...
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From the President's Desk
Don Briggs, LOGA President |
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A “Yes” Vote Needed For Amendment 8
November 4th Election Day is tomorrow! Each race plays an important role for the future of Louisiana. A few of the races’ outcomes could potentially impact the oil and gas industry for the good or the bad depending on the election results. However, in addition to the numerous political races, 14 Louisiana Constitutional Amendments are the on the ballot for you the voter to determine if they should move forward with a “Yes” or “No” vote.
All of these 14 amendments are important for the voter to examine and determine if he or she will be for or against the measure. However, one particular Amendment is crucial to the oil and gas industry. Amendment 8 determines the future of the Artificial Reef Development Fund. A “Yes” vote would establish the Artificial Reef Development Fund in the Constitution and prohibit using its money for purposes other than those described in the amendment. A “No” vote would leave the fund as it currently exists, as a statutory entity, which allows it to be “swept” when the government needs money to balance the state’s budget.
Clearly, a “Yes” vote is the opinion of the oil and gas industry as well as the sportsmen that enjoy fishing in the Gulf of Mexico. However, it is important to identify what the Fund is for and why it is crucial for the industry and the sportsmen.
As the federal law currently stands, when a rig platform has been out of production for a year, it must be removed. This platform removal process is extremely expensive for the industry, especially at a time when the price of oil is drastically dropping in the United States. In 1986, the State of Louisiana created a ‘Rigs To Reef’ program. This program’s intention is to allow oil and gas operators to sink their rigs in the Gulf, with obvious stipulations and guidelines, to allow for marine life to attach itself to the rigs. This creates a sporting fish haven for our Gulf marine life.
The companies that take part in this program donate half of the dollars that would have been spent to remove the rigs to the ‘Rigs To Reef’ fund. These dollars are spent to maintain the integrity of the artificial reefs, for administration and operational costs and to develop further artificial reefs for the Gulf of Mexico. Over the last few years, these dollars have been removed from the program to fill gaps elsewhere in the state budget.
The program is beneficial to the oil and gas industry for obvious financial reasons. However, the benefits do not stop here. The coast of Louisiana is often considered the premier fishing zone for the entire world. Fishermen from all around the United States, and the world for that matter, come to this region to take advantage of the incredible habitats of fish that have made their homes around these artificial reefs created by the sunken platforms.
It goes without saying, as dollars are removed from the program, which is legal under current law, the program’s future survival is in question. Amendment 8 will create a constitutional protection for this Artificial Reef Development Program ensuring that the Louisiana coast and the Gulf Coast region can carry on the legacy of being a “Sportsman’s Paradise”. A “Yes” vote for Amendment 8 will ensure a bright future for this economic and environmentally friendly program.
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What do you think about it?
