Introduced Version - Originating in Committee Senate Concurrent Resolution 71 History

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(By Senators Green, Deem, D. Facemire, Guills, Kessler, Minard, Stollings, Sypolt, Williams and Yost)

[Originating in the Committee on Energy, Industry and Mining; reported April 7, 2009]

Recognizing the importance of the oil and natural gas industry in West Virginia and requesting West Virginia's congressional delegation to support the oil and natural gas industry.

Whereas, The Legislature works tirelessly to improve the quality of life for the citizens of the Mountain State; and
Whereas, Oil and Natural Gas Industry has been, and continues to be, one of the primary industries responsible for the economic success of West Virginia and its citizens; and
Whereas, Thousands of West Virginians are employed, either directly or indirectly, by the oil and natural gas industry which generates payrolls totaling over $1 billion; and
Whereas, Production, transmission, storage and distribution of oil and natural gas currently accounts for the payment of millions of dollars in severance taxes, millions of dollars in income taxes and millions of dollars in other related taxes paid to the State of West Virginia; and
Whereas, County governments and county school systems throughout the state rely on the taxes from oil and natural gas companies that annually fund many valuable programs, including public education, ambulance services and law enforcement; and
Whereas, The reduction of West Virginia's oil and natural gas production and the loss of any oil- and natural gas-related employment ultimately results in significant harm to all West Virginians; and
Whereas, The United States of America, in its effort to become energy independent, may be compromised if oil and natural gas investment is not maintained; and
Whereas, Concerns have been raised about President Obama's proposal to eliminate a number of key tax incentives which have benefitted the domestic natural gas industry; and
Whereas, Continued incentives will allow for development of geophysical analysis necessary to evaluate known reserves such as the Marcellus Shale and other shale formations vital for our domestic reserves; and
Whereas, The continued development of domestic reserves is not only good energy policy, it is sound fiscal policy and vital to our national security; and
Whereas, Fewer wells in production would result in significant direct West Virginia job losses and accompanying loss of property and severance tax revenues; and
Whereas, The reduction in oil and natural gas development will keep potential royalty payments to ordinary West Virginians who for years have waited for and paid property taxes on minerals with the hope they would be developed; and
Whereas, Actions by the United States Congress should be in an effort to ensure our domestic energy resources are developed responsibly in conjunction with federal and state regulatory agencies; and
Whereas, The United States Congress is responsible for securing our national defense and providing for our energy independence from foreign influence; therefore, be it
Resolved by the Legislature of West Virginia:
That the Legislature hereby recognizes the importance of the oil and natural gas industry in West Virginia and requesting West Virginia's congressional delegation to support the oil and natural gas industry; and, be it
Further Resolved, That the Legislature hereby requests the West Virginia congressional delegation join in opposition to proposed changes in the United States Tax Code which reduce incentives that stimulated domestic oil and natural gas production; and, be it
Further Resolved, That the Clerk of the Senate is hereby directed to forward a copy of this resolution to the President and Vice President of the United States, Governor of West Virginia and members of West Virginia's congressional delegation.
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