Lafayette, Louisiana, Mark Miller discussed on Discover Lafayette
A few times and I must say that You know Mr Hyland's vision when it came to the business was pretty phenomenal. Back in those days in the fifties sixties and seventies when you worked for Gulf oil. And you're trying to make a deal with somebody at Unbeliever Texaco. You literally walked across the street or next door and the oil center and said let's go to lunch and talk this over and then you might go out and compete against each other buying leases. But by night you were over there patting each other on the back and there's a lot of combranch back to something that we all miss but it makes me smile and think about it. It was a different day but I mean it was a different time post World War. Two and I think everybody was just experiencing You know for the first time in decades the ability to make some money in Lafayette certainly attracted them. And we still. Do you know even with the oil and gas issues. I know that we're still attracting entrepreneurs and so it's my hope that through some of this mark there might be some new technologies that are developed in combination with our new IT sector. That's moving in and perhaps some of these issues on the price of drilling for oil. You can be Enhanced that's my hope. So and I agree and I I must shout out to the people of Acadian. Ah In their indefatigable spirit and ingenuity that they export all around the world in terms of oil and gas and and the slides into other businesses as well. Which is what you're suggesting so we do have a very entrepreneurial spirit here and we will make something out of this Janna also wanted to say that it's important for most people think your listeners would be interested in the fact that independence like Badger oil and Mac energy here in town. Still Jill Eighty three percent of the oil wells in the United States and ninety percent of natural gas wells if not all the Exxon's and they Chevrons that drill the wells. The independence still make up the drilling of most new wells so important to remember that as we go forward you know. I just assumed it was the excellent and the shells there deepwater drilling and are those older production sites. Well those are. Those are big capital items. I guess I should have said Onshore USA onshore. So I'm probably misspoken but the independence or the guys that really keep keep the oil in the top and they're obviously the ones that are going to be hurt as much as the rest of the country and the big oil companies world. We're going to be hurt bonus so you would ask about some ideas to to help us and I had a couple of those that you don't know what are some policy. Are just anything that you think happens during well. I know the Mineral Board. As recently as last week was discussing looking at state leases in talking about loyalty relieve so a reduction in the royalty. That's paid to the state on a state lease would help the people that are producing almost leases most which are older releases except maybe in the Hanes Ville Shale. They're fairly new. So royalty look relief on those leases would would help the oil company in the short term with these decline the huge decline in prices. And the other thing and I I was able to testify in front of the Senate and the House about two weeks ago. The budget for this year for Louisiana was based on sixty one dollar oil obviously with oil West Texas Intermediate Trading at twenty four dollars a barrel and Louisiana light at twenty two dollars a barrel today. We're way off that mark so one of the things I was suggesting was if the legislature would forgive consider forgiving for a short period of time. perhaps six months to start with the severance taxes that we pay on oil and natural gas again leading the companies survive through this terrible collapse as we addressed in the opening for this interview. We need a little time and breathing room to get through this about at the federal level. Mark you've mentioned to me that Do we have import taxes on an oil like we do not and it has been bandied about it recently. As last Friday at the White House there were several oilmen that went out there and discuss that It's the large independent really. Pushed it stronger than the majors because the majors have ties around the world in other markets as well so the independence have been talking about that for very long time and trying to protect the people at home and it hasn't really caught fire and the way it might but the discussion still going on and there's several. Us senators such as Kevin Kramer. That's supporting that idea as well with letters to the president so. I'm sure it's on the president's desk asking him to give it some thought about our senators. I think Senator Kathy's embrace part of it as well I. I've not read everything that sort of Kennedy said about it and Senator Kennedy. But they know what's at stake in Louisiana and they know that I'm sure they're doing everything they can to help us in regard to helping our industry as president trump supportive of all of it. Land Gas industry absolutely. He has been a tremendous supporter. Helped in a Lotta ways of curtailing duplicity duplicitous regulations and and some problems that we've had but of course this this oil price and the pandemic who could have seen this coming right. Well how many independence do we have left here? Mark Not a hard number. It is that basically the the group of producers that are here in. Lafayette in South Louisiana. Yeah they're they're not many left Most all the major will all the major oil companies did without we have Petra quest is still. Here is a public company course. Stone left a couple of years ago. So we do not have Any big big companies here today certainly each and every once extremely important as I said what they all contribute to finding on gas and keeping us in the mix so but we have lost a lot of the big companies who've relocated to Houston or Dallas or elsewhere and a lot of our residents are working elsewhere. And they keep their homes here. I make sure that's true People at work here that her chilies husband works over in Texas and he's gone to two weeks and then comes back for week. So they're they're traveling and they're working hard to keep the business alive because there's money back here in Louisiana right have I asked You What she thought we discuss. Are there any topics that we need to touch on? I think that's it. I think that the state legislature needs to realize that this is unlike anything we've ever seen before and the oil and gas business that feeds our families and puts her kids You know through school and and everything that contributes to our our welfare here in this town No matter who you are is important. Industry needs to remain viable so anything that can be done to help the oil and gas industry. We're all asking. Please do it now. Don't wait til later. Yeah I know I second that and I want to thank you. Mark Miller for taking the time to work with me on this podcast and to share your information and again your With Merlin Oil and gas if people WANNA know more about you and I'll put all that on my show notes on my website. Discover Lafayette but I wanNA thank you for sharing your thoughts and we're talking about it. I want to thank our legislators for the work. They've done and looks like they're gonNa have a lot of work to do to balance our budget given the price of a barrel of oil at this point so about a lot. It's really an interesting time. I'd like to second that they're doing a Yeoman's job over there. Some of them are doing it from afar but they're all giving their time and effort on our behalf. So thank you all of them. That's right and also like to thank inclosing Jason Sikora Raider. Who will be mixing this podcast tape as well as Raider Iberia Bank and Lafayette General Health for their support. We're also grateful for our premier partnership with Rowling Marketing. Please subscribe to discover Lafayette by going to your podcast. App On your phone are you can find all of our podcast on the web and discover back yet. Thank you for listening and please stay safe this chance wet..