re: #105 The Shadow Do

State revenue from O&G

Oil & gas industry contributions to Louisiana economy (not FROM, as in subsidies).

What is the overall impact of the Oil and Gas Industry in Louisiana?
Oil and gas production directly and indirectly supported $12.7 billion in household earnings in the state, representing 15.4 percent of total Louisiana household earnings in 2005;
The industry supported, directly and indirectly, more than 320,000 jobs and $70.2 billion in business sale in Louisiana in 2005;
In 2006, more than 58,000 Louisianans worked in extraction, pipeline and refining jobs.

How much does the oil and gas industry contribute to Louisiana’s state revenues?
For the 2006 fiscal year, the oil and gas industry paid more than 14 percent of total state taxes, licenses and fees collected by the state of Louisiana;
This revenue amounts to more than $1.4 billion - a substantial portion of Louisiana’s budget;
Because this sector generated $12.7 billion in Louisiana household earnings, state government collected more than $890 million in related taxes in the 2006 fiscal year.
How much does the oil and gas industry contribute to local government revenues in Louisiana?
Using conservative estimates, the oil and gas industry paid more than $172 million in ad valorem taxes to local governments in Louisiana in 2005;
In 31 of Louisiana’s 64 parishes, these taxes exceeded $1 million and in 12 Louisiana parishes they exceeded $5 million;
Because this sector generated $12.7 billion in household earnings, more than a half billion dollars ($560 million) was added to the treasuries of local governments in the 2006 fiscal year.