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Regular Session, 2010 ENROLLED
SENATE RESOLUTION NO. 93
BY SENATOR LONG
A RESOLUTION
To recognize the Haynesville Shale for its economic impact on the state.
WHEREAS, in 2009, seven firms extracting natural gas from the Haynesville Shale
in northwest Louisiana generated approximately $10.6 billion in new business sales within
the state according to an economic impact study; and
WHEREAS, new business sales in turn created new household earnings for residents
of the state totaling $5.7 billion, according to the report which represents about 3.6 percent
of the personal income produced in the state in 2009; and
WHEREAS, while Louisiana's personal income fell by almost $1.2 billion or 0.7
percent in 2009, had it not been for the Haynesville Shale activity, the decline would have
been 4.3 percent, according to the report; and
WHEREAS, including the direct employment of 4,318 employees and contract
workers reported by these firms, there was an increase of 57,637 new jobs within the state
in 2009; and
WHEREAS, while Louisiana lost two percent of its jobs in 2009, without the jobs
provided by Haynesville Shale, the state's employment numbers would have decreased by
five per cent; and
WHEREAS, it is stated that production activity in the shale increased state and local
tax collections by at least $912.3 million; with direct taxes paid by those firms and that
activities in the shale indirectly generated state taxes of at least $573.5 million; and
WHEREAS, the study was conducted by economist Loren Scott for the Louisiana
Oil and Gas Association from company data representing 70% of the wells drilled in 2009;
and SR NO. 93 ENROLLED
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WHEREAS, it is estimated that from 2010 to 2014, companies operating there will
spend nearly $25.8 billion in drilling expenditures and $57.5 million in estimated lease
payments, and will allocate approximately $672 million in royalty payments; and
WHEREAS, over the same five-year period, it is estimated that activity in the shale
will generate $61 billion in new business sales, $15.6 billion in new household earnings, and
$844 million in local government revenue and $195 million in state revenue from severance
taxes.
THEREFORE, BE IT RESOLVED that the Senate of the Legislature of Louisiana
does hereby recognize the Haynesville Shale for its economic impact on the state.
PRESIDENT OF THE SENATE