LOGA (Louisiana Oil & Gas Association)

In a time of global insecurity, it is imperative that the United States become independent from foreign oil sources, to ensure our Nation’s security. However, President Barack Obama’s proposed tax increase, aimed at increasing revenue from the oil and natural gas industry, flies in the face of that goal. Already the second largest revenue stream for the U.S. Treasury, our Industry is a large employer, tax payer, and revenue stream for Federal, State and Local Governments.

“I am greatly disturbed by this most recent attack on our Industry,” LOGA President Don Briggs said today. “We must stand firm in voicing our concerns on the President’s Proposed FY2010 Budget and reminding lawmakers of our crucial role in the economy and daily lives of the American citizens.”

“I urge you to contact your Congressman and Senators and urge them to reject President Obama’s attempt to tax our oil and gas companies out of the business.”  Congress has the serious task of reviewing the President’s proposed budget, then amending and passing the measure. It is imperative to reach out to those persons who can change this proposal before becoming law.

Contact information for your Congressional Members can be found here: http://www.usa.gov/Contact/Elected.shtml
FY2010 Budget Proposals Include:

• Repeal Expensing of Intangible Drilling Costs
• Repeal of Percentage Depletion
• Repeal Marginal Well Tax Credit
• Repeal Enhanced Oil Recovery Credit
• Increases Geological and Geophysical Amortization Costs
• Excise Tax on Gulf of Mexico Production
• Repeal of Manufacturing Tax Deduction
• Implement a $4/acre fee on Gulf leases designated as non-producing

If you have any questions about this proposal please contact Don Briggs at 225-388-9525