WWL>Topics>>2-11 8am Tommy, oil & gas industry in Louisiana

2-11 8am Tommy, oil & gas industry in Louisiana

Feb 11, 2016|

Tommy talks to Eric Smith, a Professor at Tulane's Institute of Energy, about proposals from Pres. Obama that could affect the oil & gas industry.

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Automatically Generated Transcript (may not be 100% accurate)

Chris we're two tournaments in very serious things in terms of proposed tax on a barrel of oil and need to leave you out of this and I'll talk about that in a minute. And as well state budget the governor you just said is gonna address. The state I guess it's 630 tonight and carried it here on Debbie WL. But I just thought I'd I'd VR often at the ridiculous if I may. And I we talked about Cam Newton being cocky this guy actually. Wore a hall of fame jacket on the sideline I don't know if you member of that that. But he he was talking yesterday about how he used to rehabilitate himself when he was a player from injuries. And he said that he would. He would collect. Warm from. CT from his teammates. Heated up and put his ankle and it for thirty minutes. Com. I don't even know what to Wear it out. From the microwave until it was Obie and his own microwave let's put it that way. One of the team cap ex is exactly and I would think he would have to tape zone ankles. I don't know is against you getting. You giving credit for being honest but it. Street to rent out the medical value. Well even if it does them I won't you don't mean. From I would take a break we come back I think the president has lost his mind let me say this now. This is not because the president is black. It has to do with black but black is in crude oil the oil industry is hurting here in Louisiana it is on life support. And he wants and a ten dollar barrel tax to oil. The war. The environment because he thinks it's gonna cut down on the use of fossil fuels. And it Airgas will because you know most people and we Seattle be unemployed and it won't be going anywhere. On the other thing he went to do was take these revenues revenue sharing that the entire Louisiana delegation worked so hard to get after Katrina. He wants suspended on national parks. And we gotta tie all of this and then the the State's budget problems in the hole we're in because that's got to be down because the price of oil and if you're any oil and gas industry. I would love to hear premier 2601870. About. The president's proposals. Again personally not because he's black because of these ideas I think he's lost his mind and wandered off for the White House grounds. Eight and coming back with doctor Eric Smith and you. And talk about this under the W I would love to hear from you if you were in the oil and gas industry at 260187. Me. Your thoughts on the president wanting to you. Put a ten dollar a gallon ten two in Maryland barrel tax on oil and what effect it would have for you. As gist of person a citizen. You know this can be reflected in higher gas prices and are you willing to do that. To limit the emission of carbon fuels. And uses the same. Any oil industry's treating hang O'Neill when the patient has cancer and I certainly am not trying to be disrespectful when I say that. Then the revenues the the I am revenue sharing the revenues from oil production. At the Louisiana delegation fought so hard to get which you're still not even close to what we should have. The president went to take those away Ian and send them to Alaska. Basically for national parks. Do you think the president has lost his mind you're simply doesn't care. I think he doesn't care and please don't text me Zain it's because he's black this has nothing to do with black or white this is policy plus the president and his half life. I don't think ray Sanders in of this at all and I just think and he's crazy I really deal I know he cares about the environment but you gotta put people first. Short term and not long term and and to think that you're gonna cut the emissions. Possibly feel from fossil fuels. By Macon people hurt delays stop using them I don't that makes no sense to me this revenue thing is Louisiana and incense is me chances are Ramon goes through in his budget I hope not. And the the effect on Louisiana where already you know hole. And then before you know it from the oil revenues keep going down and down and pounded the attacks on a barrel of oil. And exacerbate that in and it's going to be even worse. At least that's away Agassi at glitzy at the learned professor thinks Eric Smith a friend of mine as a professor two lanes institute of energy mornings their. I'm pretty I don't know. Now. Because. He did hear earlier not but I honestly do you think the president and his losses mind. And I'm not trying to be political wanna say that but. Given what's going on in the oil industry. To be worried a vote. Fossil fuel emissions right now. Is so much so as to propose a ten dollar. A barrel tax Tiki. Into the use him against a force people use less. An inning went to take these revenues at the Louisiana delegation fought so hard for. And sent him to Alaska to help with a national park your thoughts. Our presence. Quite rational Marty Stewart I don't agree with the Yankees basically. How to kill gas industry and we Shia and then church and Oklahoma. Mexico and even collapsed or certain collateral damage. So what does he gain by doing that and I'm not here to argue the president sanity with you but it seems illogical and makes no sense at all other than the push an agenda. And maybe for his legacy now we are venturing into politics. Out all of the ideology. About economics. And may be wrong personal character I think he's in RE. Or group of motivated actors sugar have been sort of repeat true. Save the planet partner that you to remission program it's a lecture he actually economy Serbia and cheaper institute. And he's purple people like mr. strayer and others that contribute to Asia. Parties they are. Helped them get. Supporters elected what are your short term legacy to. Our question what did he wait seven years to do you know different approach. You know it long past that little period. In submitting your position and being in Port Au Prince so. But there are I get another reason I'm concerned. Is that. In terms of compromise if we don't lose half the revenues if it doesn't wind up in and a five dollar. Barrel tax on oil won't be affected that to study curiosity in terms of ten or five. Well I mean basically whatever it is Richard restaurant trying to return to reduce competitor mentioned you search groups or other. Increasing our exports will be increasing our porch. It'll penalize you archer refiners and you're arched. Option routes and the court should people or partner actually Portugal which sort. It doesn't make a whole lot of beacon collection or should point out that does it archaeological search. I'd Nicole there's two. Shut down below industry. And so our professor Tom so when it comes to use the revenues being down. Look at it through the prism of the state budget problems and audit offshore revenues that the you know revenue sharing that the president in our 800. We racial group may shall there aren't sure you right along strike. Destroy our ultimately. You. The revenues from network superb superior for they are after steep billion in part on your reclamation richer and richer and sure. And he simply. Sure that he would develop that money people workshop and a little or collapsed or someplace. What about dumb that the revenues at Louisiana day is losing now from. In the oil business legacy oil industry and how likely is that the change in terms of the governor and plug in the holes. I don't think it's and help for governor this year and actually help him Barbara brought torrential cheaters shortly. I don't think you're you know there. General and order issue I supported the release of our trove billion dollars surely dollar reduction. In the corporation oil and should start in the extraction charter real true and what we're here to. Urged. These are sure industry show that you truly global. Travel and deep water and trees certainly damaged promotional effort. Not just the jobs offshore you know that maybe. Virtual out there and patrol service companies and old little properties in Omaha. More should nurture girls and I'm sure took. Visitors also warning people. Thank you the spot sure if you if you that it downstream refining and petrochemical business particularly. And the construction charred. Refineries and do well. A little preparation part about our. Or guest worker actually worked fine optional. Thank you professor appreciate your time is always. You don't target for Eric Smith. Two joins energy institute LTT calls we come back it's 60. 1870. And Yeager at the president's plan and not get a Texas is bowl when are you gonna cut fossil fuel emissions. I don't know but I don't know why would Louisiana why should Louisiana have to pay disproportionately. For that in my would you take. The revenue sharing. Money away from us and give it to Alaska to build the national park you would think that. Even Louisiana from B and wiped off the man emperor of the southern half of it would be a priority. As far as the United States goes and we don't know the problem we have with coastal. Erosion here. Now in terms of politics I get a text that says well Louisiana doesn't care about President Obama why should he care about us. Are you serious. Because what you're saying it is for now it's cocaine in the future it's okay. For every president to completely ignores states that didn't vote for him or that he or she didn't Kerry. And I was the president for everybody when he voted Foreman not eight when he three. Time now for double WL traffic. 827. And we and is coming up here Chris Miller. And we're talking about the president and my outlook on that trying to selling Marco Rubio here and is not a Tony 52 prepared speech. That Chris Christie is gonna call me out I've been tongue in cheek saying the president is losses mine he's not loss anything. He does know exactly what he is doing. And I think this goes to tell you what the president's been like at least the last four years really all aid even when it comes to foreign policy strictly mine opinion. He thinks the world or the United States should completely be his vision of it. And now he things and he's gonna leave a legacy of well I tried to do this and I tried to do that no matter who it herds. I have to do what I think is best when it comes to the mines vision of the world. Which is the absolute one B it the United States some you know we're equal with everybody else until it comes time they help him. A bomb that we should be an apologist nation that we shouldn't be a world leader. That you don't taxes may hurt people I don't care disapproving this project or are not improving inner being against it. That can hurt people I don't care this world has to change and by god I'm gonna do it. That's what I see from in Steve Moore Stephen Morgan sitting oil and gas morning on WWL. Or pressure or. At that picture pick outward edible. You. And if you are still fortunate to have a what is an hour trek. Per barrel full. It doesn't hear about what war. That. What pictures. A where. Written people will. Go it lecture hall itself airliner. Shortly and its. Report time. She like all out of Mexico. Department senator. Or go transportation. That. Truck. Or are we can come up. And you know the fact is there. All met and become dependent on. He. The green haired candidate for. UCL. Collateral damage. I thank you Steve I'm glad you called in an instant vaccine at the you know every president has a view of the world. And I understand that but it seems like the president's view. Is unnecessarily America's view. And I don't seem to remember that being pursued as aggressively before all the allegation can make a case that George W. Bush thought that. Going anywhere rock was a good thing and he wanted to remake the world. In his vision in terms of the Middle East and Colin Powell's that you breakage on it. And a lot of a lot of experts say that we wouldn't be where we are today with the prices of Saddam Hussein. Was still in power or Qaddafi and Libya 831 time now for double WL first news and blow get a Christmas. 83822. Before nine at 910 the treasure. Of the greats say Louisiana John Kennedy you'll join us to talk about. The the deficit and how much of a hole wheezing yen is NN day and some ways to get out of it without increasing taxes. It's not about the president's. Budget which you know is not gonna pass but. The idea angers me of ten dollar tax that's general barreled tax on oil. And then he's talking about taken away the revenues. That Mary Landrieu and anytime Louisiana delegation fought so hard for primarily. Mary Landrieu. And he's given them two or dedicating that money to. Parks national parks and ends in Alaska. So we're talking about. Fossil fuels which is the reason that he once the ten dollar a gallon. Ten dollar a barrel tax on oil at a Texans announces absolutely agree agree we need to move away from fossil fuels long overdue. LO well it all you guys is stages of blame. The reason we have a huge oil and gas industries because we have no environmental regulations for the oil companies to follow LO well. Wanna look at a work here Andy if you work for the state you're not immune if you're in private industry one way or the other is good trickled down to yeah. And I texted back and as a deal like that cheap gas. They said William love the cheap gas we can't ride one horse but he can't write two horses with one behind at think at some point. You gotta you gotta make a choice. At what you want now if you wanna. Cut out the emission of fossil fuels and you're that committed to get a bicycle. Do that bike to work. You know always. In essence take what five dollar a gallon gas we do to yet. And whatever you pay take the difference added to the environmental defense resource committee whatever the name of it is. But you gotta realize that you can't just say put a ten dollar a barrel tax on oil when that there's not going to be economic ripple effects from them. We'll talk more 260 winning Sony and look if you are for it and you think we are just. Threatened. By fossil fuel emissions and it is time to take a stand even if it hurts people. Disproportionately. Economically I'd love to hear from me Tommy Tucker back in a flash and evidently well. 845 the president's budget Louisiana. Deficit that we phase of governors gonna talk about it tonight at 630 will carry forty hero and evidently UNL. And attacks comes in says so you're saying we need to protect fossil fuels and also spend more money protectors city against rising sea levels. Resulting from climate change who's writing the same horse with two but if you think. A ten dollar a tax a ten dollar a barrel tax on oil. Is gonna save the world or the climate. I think you're delusional. Because you gotta you gotta think about in DA got to think about China. And the pollution in the air and fossil fuel emissions. That are in the planet and if you think us doing it by ourselves is gonna make a difference it's not there are no cars on our. Horizontal or invisible walls obviously between the United States and everybody else. Not a text that comes in says. It's very simple modern cars now can run 80% ethanol but Louisiana home on a allow an ethanol station be built Brazil was cleaned up there environment by switching look it up balloon thing I know is that in this country. And Garland Robinette did the research on this years ago. And if you don't been ethanol while ethanol almost something change cannot be shipped through a pipeline. Silly actually. Burn up more. Then he used saved. By a having an ethanol plant I guess when I'm trying to say is it be shipped in a pipeline Shelton Baton Rouge morning aren't evidently you know labor problem. Shell didn't turn a radio down please I will come back. Bowling Saturday morning your got to be well. Leo 088. And some I quit. State. Where electors get electors may. We knew little about I'll record as it may make any. Wet like. Assess how his lectures in a tight in the key. And frankly just getting you beau go ahead well. No matter most of our net to. Make as natural. Gas greeting actually. So it would be interpreted in a deal. Out. While most are in the lectures he. In nine states come from that yeah yeah you don't get to dampen it equal rate is the public. He. You know well known yet about coal fired. They. Were. Now. Been turned into an actual. Ship go. Globe. I will they still had a lot of cool fired nuclear plant. Oh. Coal fired plants not nuclear and coal fired plants well. They also get red or amber. And so the point is. Amenities. Were already hurt. Which tracks. All idol. And actually are rattled at you know. Go to the ball up on the cross party you know. Eagle omelet. You used to make it bring it before it you know. I'd elaborate it in the little Balkan you know chemical glad you you know. Mobile will ninety and I'm glad you called. I know a panel was not real good for engines as well Sheldon and banners in the morning in dividend yield meta tag tonight. A little bit more to settlement by against of that tunnel and it morning Shelton. And goods it was a. Have a question now why hasn't anyone. Brought they had deal lump. Of legalizing. Recreational use of marijuana to generated tax revenue source state. I don't know how much it brought in the Colorado or Washington or any of these states on and really made it you know that much of a difference but. You'd hear a lot lesson in Carolina a lot less about it when you Sheldon. Well what's that but I did you eat you know. I get a but I think that Dick revenue source would help. You know club didn't make it out. I don't know we get 800 some million for this year we got two billion for next year I like to know how much it's. Brought in Colorado but I don't know if if those numbers are out yet. Yeah but hey it didn't no matter what Greg Moore that's. Right. But it. Namely to get a spot to a point differ in important source of income basically. I'd Shelton thank you of course to be a lot of political concerns airmen lady called. The US generates 39% of its electricity from coal natural gas 27%. I guess she gets a nuclear in the air. As well I will continue the conversation 85010 until nine. Man I think the main thing we started talking about mentally to get back to his. John Bell Edwards raising taxes making cuts are you willing to pay more taxes. To avoid things being cut. And if you want some cut what is it top universities health care what you tell me 851. Nine before nine time now for DeVon WL. Traffic. Tallied tiger another WL talking money in science and do the things I'm not very good at but you know what. What we're gonna we're gonna make it work actually Texans in modern engines have been redesigned new except death and all older engines. IG pre toward 2000 cannot handle it'd eats rubber seals and bush scenes. Not on today's engines actually mine owner's manual. I think I Dre between fifteen media fourteen on those said to avoid. Gas with ethanol as I possibly could. And use I guess be a premium gas without personal. I guess at work I don't know understanding with the owner's manual said. Tony fifteen Colorado men marijuana seals or just under one billion. The taxes from that the boys and a production truck Tommy was 86 million. So we're looking at 850 million. Credit card statement that we can't pay this year and in two billion dollars on a credit cards they met for next year that we have no idea. How organ a make work Davone Metairie good morning and double WL. And Oprah and and Arctic at all but I think they should suspend. The contract certainly late Brittany or we go out. And would. Fight acted bought it. Aren't going to a record can be sent an older people in the top. We had him on in two minutes debug and eagle. In. You can always consult. I always want to get out like that. All it was able to. Cut back it got. Table. Or what they exported and you know. You'll want. Oh what a player by the court. People walk on the actual problem with this they beat their equipment into it. And because a lot. It could put percent report. Complete or it cleared BC. Open. At republic. To go get hotter today. Well let me tell you Dave with a problem with your ideas first off. Is they're gonna say it's overly simplistic it probably does not make cents. I think politically it would never work because the patronage in because of who's making money off of his campaign contributions setter. Block all that being said in an ideal world I like you think it like you know. Let's I don't all out and let's see if it hurts or not because chances are you can do without. Steak every Friday night and it's not gonna tell you could have just been about life you can do without. Whatever the weekly trips to the casino what have you. Oh really you know why we sit it is the street does which. Grow a spot in order take out. I don't disagree the date am glad he called it a good day they they keep listening John Kennedy coming up and a couple of minutes serving as. And representing the treasures office nothing else talk about John Bell Edwards his speech tonight. Louisiana. And the money we spend enough money we don't have that in a flash.