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MCDANIEL – Moratorium, double...

MCDANIEL – Moratorium, double taxes on oil companies wrong

By: Magnolia Tribune - September 10, 2010

Moratorium, double taxes on oil companies wrong

BY IMPLEMENTING a second ill-advised offshore drilling moratorium, the Obama administration is punishing the hard-working, blue-collar business owners and employees who serve as the functional backbone of our economy.

Unless the moratorium is lifted, the Gulf region will lose an estimated $2.1 billion in economic productivity, 8,169 jobs, $487 million in wages and $98 million in tax revenues, according to Joseph Mason, a Louisiana State University professor of finance.

And, yet, despite the moratorium’s injurious blow to Mississippi, Alabama, Louisiana and Texas, opponents of the oil and gas industry are not yet satisfied.

Mississippi Sen. Chris McDaniel of Ellisville represents District 42 in the state Senate.

Hattiesburg American

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This article was produced by Magnolia Tribune staff.