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Foster Campbell on Energy & Oil

 

 


Build Keystone pipeline; no farcking regulation for now

Q: Do you support building the Keystone XL pipeline?

A: Yes

Q: Do you support government funding for the development of renewable energy (e.g. solar, wind, thermal)?

A: Yes

Q: Do you support increased regulations on the hydraulic fracturing ("fracking") industry?

A: No. I will continue to listen to and study scientific evidence that would support further regulation.

Source: VoteSmart 2016 Louisiana Senate Political Courage Test , Nov 1, 2016

Regulate greenhouse gases; incentivize reducing emissions

Q: Do you believe that human activity is contributing to climate change?

A: Yes

Q: Do you support the federal regulation of greenhouse gas emissions?

A: Yes. I will continue to incentivize reducing emissions so that we don't damage the economy while we save the environment.

Source: VoteSmart 2016 Louisiana Senate Political Courage Test , Nov 1, 2016

Charge 6.25% oil refining tax and wipe out income tax

Campbell believes he possesses the knowledge and courage to unlock billions of untapped dollars: ridding the state of its income tax, saving Louisiana's residents $3.2 billion, according to his estimates. To eliminate the income tax, the state would need to charge oil companies a 6.25% tax to refine their product in the state. The tax on domestic oil, meanwhile, would drop from 12.5% to 6.25%.

Currently, foreign oil refined in Louisiana is not taxed by the state, Campbell said. If a tax were enacted, it would generate $5 billion or more, making it possible to wipe out the income tax and improve the state's education, highway and medical systems. "We have squandered our natural resources," Campbell said. "The politicians have been too cozy with the oil companies." Simply taxing international oil corporations isn't enough, however. Campbell also plans to ask them to pay the state for damages they have caused to its coast--approximately $20 billion, he said.

Source: Thibodeaux Daily Comet on 2016 Louisiana Senate race , Aug 24, 2007

3% tax on hydrocarbon processing facilities

Legislative Digest: Present constitution prohibits the levy of a tax other than severance tax on "oil, gas, or sulphur leases or rights." Proposed constitutional amendment authorizes the levy of a tax on the use of hydrocarbon processing facilities at a rate not to exceed 3% of the value of the hydrocarbons.

Proposed constitutional amendment provides for a repeal of all severance taxes which are levied on oil and gas if such a tax is levied and the tax is determined to be valid by a final, non-appealable judgment or as otherwise provided by law.

Legislative Outcome: Died in Senate committee. (SB1 authored by Senator Foster Campbell)

Source: Louisiana 2002 legislative voting records: SB1 , Apr 29, 2002

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