Jindal: Our share of LA offshore oil royalties - KPLC 7 News, Lake Charles, Louisiana

Jindal: Our share of LA offshore oil royalties

September 8, 2006

Reported by KPLC Staff

U.S. Congressman Bobby Jindal was in the Lake Charles today for a Republican round table discussion.  One of the major topics Jindal addressed was Louisiana's ongoing fight for offshore royalties.

"We generate 30% of the nation's energy off our coast, right here in Louisiana, five to six billions of dollars a year for the rest of country, but we see virtually none of those royalties," said Jindal.  He stated that other states share as much as 50% of offshore royalties. To see that we get our fair share, Jindal has passed a bill in the house that would generate two billion dollars a year for Louisiana. That legislation would free up federal dollars for coastal restoration as well as the nation's dependence on foreign oil.  

Jindal said, "Nobody's going to get 100% of what you want, but you have to come up after 50 years of fighting. This is the closest we've come. We have to come up with a fair and reasonable compromise to award state's like Louisiana who have been willing to provide energy to the rest of the country, while at the same time looking at ways to make us less dependent on foreign sources for our energy needs."

The Senate's version of Jindal's bill would exclude existing leases and only allow royalties to be claimed on new leases -- limiting Louisiana to millions rather than billions of dollars in revenue.

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