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WWL>Topics>>Think Tank- Daniel Rothschild

Think Tank- Daniel Rothschild

Dec 18, 2013|

Louisiana could be getting a piece of the projected $18 billion in BP oil spill payments, but will we use the money the right way? Do you trust government officials now in charge?

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Automatically Generated Transcript (may not be 100% accurate)

I've been thinking about doing a lot of shows on BP. -- fueled so -- and not sleaze and living. Hopefully legislation that later. And one of the show's live Rico told me something. Ruling was and where. It's. The big old page and altered -- there. Other major publications. Advertisements important rendered by BP. And the ads basically gave. Evidence would seem to be. Entities taking advantage of BP and getting only one that he really didn't deserve it. So we do to shore and then thinking that we would review one -- -- group was talk about the way law school professor wrong. And reasonable and what they're not saying. Is in the contractual agreement they -- warned. 300 to three separate occasions. By the judged by those involved in the litigation. That there could be a large number of cases that really didn't -- Their parameters. Of getting repaid and in every game and BP said that it's okay world where. And I'll turn around saying at least courting this. Won't propose certain to win and it didn't mean even though about what -- signed legal agreement. And and -- professor in the conversation. So of course it went to have to sort through its Circuit Court of Appeals to conservative court. And and they agreed. Assembly and conservative court and yet. Super Bowl. It was rule of law is that the rule book as a rule -- -- As a rule persuasive. It's. And and basically. He just -- not true but it it it it took me in different correction. And I've been thinking about -- hole BP -- Now we get. Emailed. From. And while strokes seen Alou or street institute. And brought up issues its sales haven't even considered in the -- -- the most important ball. If we're applying. Leverage. It could be as much as eighteen billion dollars. And -- -- would get probably. The larger part of the -- and we will do more damage than Mississippi Alabama Florida and taxes it. All of parts that splitting it so -- well. Get a hold of the structural we can better understand this could you write a number of things need to be set in place. To be brought to put that money if and when it should brought. So vendor brought -- senior fellow with or regents to book from the shore appreciated -- -- -- -- Tell our listeners what that it. We are a small market oriented think tank in Washington DC we focus on a variety of issues related to buy insurance energy in the environments. Public spending taxes and budget. All right you mentioned in the human of the story we've been chosen to which congress passed. In 2012. They actually do it -- bipartisan. Effort which is amazing. Ended image shows 80% of civil administration Poland. From this bill guru trucks blown. For an environmental. Economic restrictions. At all plus states and of this 65%. Goes directly. To state and local governments won't what are your concerns that your educating and so. Well I think the restore act as a really interesting piece the bipartisan legislation and I think it it reflects well I I think is the correct principle that. It will -- -- -- the states along the Gulf Coast and the parish is what we he has counties in Florida are gonna know better than Washington what's required -- -- and economic work along the coast. It would take 8% of the money put it into their hands. I think the really important thing at this point is to ensure that the state and local governments have responsibility for spending the money. Are really using it. It invest it likely I'm thinking about what their -- need in terms of economic environmental restoration think about how the economy in the environment in Iraq. I'd venture into the money being politely. And we're going to porno -- the comments and to a point. Do the process should be radically. -- putter radically transparent and target. And that the -- -- disabled we have something called shouldn't read money here in this day and promised it would draw and one correction and when that minute rector. Do you know many states either proven or litigation do you know in the process of -- transparency. And targeting. Not -- guaranteed by the shirt. No you're you're absolutely right that the touch on the tobacco settlement I think that that's. Believe that the first example of some of the problems that stated that not just Louisiana that but virtually every state. I have had with he's the kind of windfall money wisely. And that's why I think it it's really important that states along the Gulf Coast you -- realize that this money is meant for the coach for the areas that were impacted. And really true that this money to not make its way to general revenues and I think the only way that that happened that is if decisions -- are made about how to spend the money. In a completely transparent process. Or relentlessly covers break your listeners comments questions. Does that concern you. He too admitted in the show we have not done shows on okay. Were probably give the big news pieces like so the BP settlement could be up to eighteen billion. But -- where -- comfortable. With you get some money and what they do with it and how visible -- transparent. -- -- It was called 2601. -- -- texture bush and comments and it's W celebrity event along docents it's still free agents and six. It'd and 08 salary. Garland -- whatever would be good this is the -- -- number of shows over the years on the view of the fuel spilled in the resulting. Litigation. And this is one robo more shows we're gonna do want to put as a big win broad talked about. Of New Orleans that the -- of the litigation could be is marches eighteen billion dollars. And that we've we've got to just come and up the yeah. Next have power that. News. And returning in news leaves him very well. And perhaps you can tell me that we already had programs in place -- and wrote a broader heard about him. Concerning okay. We get the money will -- five stage doubled dividing eighteen billion let me -- -- more and we should have -- and sure of that because. We had a little what morrow. Verifiable damage in India Tuesday but the question becomes. What happens to it after that. Is there going to be spending process the transparent. That is targeted. And along these loans we Brigham and emailed that to our broader attention to the -- -- Roth trial senior fellow with you or street institute. I've dental. Let's say okay. But we're gonna do that includes let's -- transparent. And a couple of ideas of what can beat. Well I think a lot of ways we in this really far ahead of the other. Other Gulf Coast states. Because we can't have that comprehensive master plan for the sustainable -- that the CP IRA has has spent years working on it was approved unanimously by the legislature 2012. Collecting it and it. That provides the yardstick against which all the different plans and projects can be judged if it's not something that supports the the master plan why not. So so that we -- in that because you or -- through people -- that the coast looks like 4050 years into the future that put you ahead of other states. And we're we're Debian that we don't need things like post -- all envoy and -- or make any funding decisions at all. No I think that should absolutely still be the case because this is limited resource that that were present limited resources there's got to be priority patients of things within the master plan. I think absolutely putting things on line ensuring that this robust public discussion about -- spending is going to occur. And then after projects are are decided on being completely transparent in the spending process and sharing that you know -- the contractors are working on various projects and that kind of information goes on line. I think both of those things really got together and I think both of them really can be critical to ensuring that the money is is used lightly and really in the best interest of Louisiana. -- going to look different direction with this question. I have -- that you have knowledge of his perhaps on next -- will. But -- open this up to it texting I get a number of these and basically people still wondering about what happens to these the people that were the responder. The one that. Cleaned up the news toxicity and we still don't know the long term effects from when it comes to. That kind of money team builder and more -- less. Is there any way to peel off a piece of that money in and make it transparent for what may be coming long term. It's important to note that the restore act is just one part of the overall. Pictured here and to restore -- just take the Clean Water Act fines that are being paid by BP and Transocean. As as -- you mentioned earlier there's a number of other things that are in litigation there's oil -- money there's in -- DA money's there a number of different streams coming in. And that's why it's important I think to restore act money really be used for what it's intended purpose is -- not people bought into that other direction. What do video ports -- -- that all of the meetings deliberation should be in public and published. One hundreds and transparency. No executive sessions or no bid contracts executive sessions. We always hear that we would love to make -- public but we've got proprietary. Information. Or legal issues that are being discussed that can be made public. And the I think that the the the first most important thing is transparency is deciding where the money's being spent so before you decide who is gonna be the contractor for a given project got to. Decide what that project -- And both decisions should absolutely be made public there's there's been no excuse to be doing that kind of of work -- that kind of decision making in executive session. And I should also mention that that under that the island which could restore act a lot of the monies going to the states. But a lot of it's going to parishes as well and they're gonna have a lot of leeway in deciding how they're going to spend the money. And so they really have an opportunity here it is ensured there conducting their business the completely transparent fashion and that the work that they're doing. And the weight of their spending -- support they need the -- If if -- perish for whatever reason. Decides. The Kim won't put pencil line. Of the odd little reason to revealed. Details of the contractors subcontractors. On an island is really anything the general public can do other than send them. Couple of the -- who reviewed talk show or. That -- Well. I think -- -- -- it -- -- we shouldn't devolved into that kind of situation I think there's really no reason that this information couldn't be made public Louisiana's already taking great steps toward transparency and spending. For the last few years and spending is much more transparent in the state that it was say ten years ago. I also think that that the that the legislature and governor's office and you know put them both carrots and sticks. Behind and in in front of the parachute to ensure that they are spending the money transparently. That doesn't need to just be on the on the parishes to do in this in this state can offer some support for. Transparency programs and software that helped make this information public at a very low cost. Those pure horror of three institute. Heaven he's that it is done in these studies are there were of any information. That points to this having being and been done. The big oil spill in Alaska anything in foreign countries anything else. Points to something of course none of this magnitude. But is similar problem where the funding was handled adequately were inadequately. Well you know in the United States we've never seen did this money from Clean Water Act on -- -- -- at a high level the state government before. As we were talking about earlier we had seen devolution of of some windfall money to states and and the results haven't always been positive. That what we do know at this point is that -- transparency in decision making and spending. Is relatively it's very low cost thing for states to do at a very low costing the local governments to do. And it really just no excuse now -- to not do it that way there's really no excuse to hide from people. How their money's being spent and this is -- -- is -- -- impacts on the -- in this economy and ecology for decades going forward. And that's why it's important to take the time to do it right. It would would abuse threat -- -- and you've already mentioned. That you -- we -- and there's further ahead of this than most because we already have a coast restoration plan master plan in place. Would be differences say that politicians. To be a politician. Needs citizens. That they respond to and and there are four wrote some reason they don't use this money properly. They could lose southern Louisiana which might cut down on their constituency. The thing that bullet -- -- and while the human will be used. Well at at the end of the day I think that he did transparency is important largely because it provides that political kind of accountability. I think that on a larger level there's an opportunity here for the -- in that really set to take the lead in chilling the rest of the country what -- And when states get windfall I mean bear in mind that especially Republican governors but but really governors of both parties have been. And asking for years and decades to have authority from Washington and money from Washington people from them. This is an opportunity from Louisiana to show itself as a leader to the rest of the country. In showing that that money can be used effectively and efficiently and responsibility. And responsibly weight that. The benefit taxpayers and it's its citizens in and -- that but naturally fire. So it's really an opportunity for for the -- -- -- -- to -- how much politics and -- and how -- it can -- as as a -- Or are you aware of any of the other states with the master planned comparable to what we've got. Well that that this. Put forward today. A plan in. I believe it was last year two years ago ultimately is reportedly Coke host 20/20 commission. And I think they did that -- of a lot of ways the original draft master planned in the -- the end of the came out in 2007. In a lot of ways it's it's begins to think about what the coast should look like can begin to visual projects look like but it doesn't really get to the level of saying these things are in and these things around. And it doesn't prioritize the ways that the belief in a planned. That's why I think that believed -- -- so far -- A hub and -- memo chlorinated Texas. They're all working on their own timetable that all got very board that have been been put together with responsibility either for oversight or spending the money. But I think that because they haven't had belonged to think about that these species they're just not quite the same place that the Louisiana is. But hopefully Bakalar from the -- CNN and kind of jump started a little bit. And over the next couple of years get to the point where they have a plan for how they're gonna spend that money in other economic future investments and their -- -- Then I appreciated goal in the email very much you have great holidays Merry Christmas appeal on it and water -- -- color. You feel a senior fellow appeal or street institute. -- natural talked of Walter luxury that anybody should nubians and now it's. Would galaxies at BP money the will leave and be able some about the BP settlement as I said number of -- of people ask him how the people clean up all this elegant -- of spectrum them and other than long term. Or they are being taken care of those are going to be in the French parents are going to be unique. -- setup to take care of them is something occurs at a much later date all -- of Morgan bloated Gibbs called with comments questions. Tunes -- 07. Over there were in the country -- 66 dated 90 X heavily taxed 878. Cents.

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