Louisiana House Bill HCR31

Louisiana 2010 Regular Session

• Introduced: 3/29/10
• Refer: 3/30/10
• Report Pass: 4/20/10
• Engrossed: 5/3/10
• Report Pass: 5/17/10

Caption

Memorializes congress to maintain the current incentives for mid-level oil and gas exploration and production

Impact

If enacted, HCR31 will have significant implications for both state and national energy policies. By urging Congress to preserve existing incentives, the resolution seeks to bolster domestic oil and gas production, which is vital for Louisiana's economy and energy security. The bill points out that decreased federal support could lead to higher energy prices, thereby affecting consumers at the gas pump but also undermining job stability in the state’s vital energy sector.

Summary

HCR31 is a House Concurrent Resolution that memorializes the United States Congress to take necessary actions to maintain current incentives for the exploration and production of oil and natural gas. It highlights Louisiana's critical role in the energy sector, where numerous jobs depend on stable and favorable federal policies. The resolution aims to address recent proposals for tax increases and new fees that could adversely affect the industry, particularly smaller independent businesses engaged in oil and gas production.

Sentiment

The sentiment surrounding HCR31 appears to be overwhelmingly supportive within the Louisiana legislative context, as it reflects the state's dependency on energy production and the associated economic benefits. Proponents of the resolution emphasize the necessity of keeping tax incentives to foster growth in local employment and maintain energy supplies. However, there may be underlying tensions regarding long-term sustainability and environmental concerns within the broader discussion of energy policy.

Contention

One notable point of contention in discussions around HCR31 may be related to the broader implications of maintaining specific tax incentives. While the resolution firmly advocates for preserving incentives to protect jobs and the economy, critics could argue that continued reliance on fossil fuels may hinder progress toward renewable energy sources. The resolution does not address potential environmental impacts, an essential factor in modern energy policy discussions.