Louisiana House Bill HR127

Louisiana 2018 Regular Session

• Introduced: 4/24/18
• Passed: 4/25/18

Caption

Designates April 24, 2018, Oil and Natural Gas Industry Day at the state capitol

Impact

The resolution articulates that the oil and natural gas sector not only supports employment but also provides substantial economic benefits through direct and indirect tax contributions. Specifically, it mentions that the industry pays nearly $2 billion in taxes, which directly fund critical state services such as education, healthcare, and infrastructure development. This illustrates a reliance on oil and gas revenues for the overall functioning of state-funded initiatives.

Summary

HR127 is a resolution that designates April 24, 2018, as the fourth annual Oil and Natural Gas Industry Day at the state capitol of Louisiana. The resolution highlights the significant role that the oil and natural gas industry plays in the state, emphasizing its crucial contributions to the local economy and job creation. It acknowledges that hundreds of thousands of residents are employed directly in this industry, underscoring its vital status as a cornerstone of Louisiana's economic structure.

Sentiment

The sentiment characterized in the resolution is overwhelmingly positive towards the oil and natural gas sector. The document expresses appreciation for the industry's historical partnership with Louisiana and its role in fostering economic stability and growth. This celebratory tone reflects a strong support for the energy sector within the legislative context, reinforcing the idea that the state views the oil and gas industry as essential for its prosperity.

Contention

While HR127 serves as a recognition of the industry's importance, the discussion surrounding such resolutions often brings to light tensions regarding environmental concerns, particularly given the ongoing debates over climate change and the sustainability of fossil fuel dependency. Although the text of the resolution does not delve into these issues, they remain pivotal in broader discussions about the oil and gas industry's future and its impact on local communities and environments.