Publication: American Oil & Gas Reporter
Issue: June 2018
By: Dan Larson
The Tennessee Oil & Gas Association entered the 2018 Tennessee General Assembly with hopes to avoid any measures likely to harm the industry.
They got their wish, relates President Chuck Laine.
On the other hand, the fact that lawmakers’ attention was focused elsewhere also prevented passage of a bill that TOGA backed.
According to Laine, the top item on TOGA’s legislative agenda was HB 1187, which would have redirect all Tennessee oil and gas severance tax revenues – except a small portion for administrative costs – back to the counties from which the production originated.
“Only one-third of severance tax revenues stay in the producing county,” Laine observes. “The rest goes into the state’s general fund. With production dropping because of the downturn, our members tell us their counties can really use the help.”