An Update from Bobby

An Update from Bobby

Dear Friends-

Lowering gas prices and helping our state

A discovery this week in the Gulf of Mexico has the potential to help our state and lower energy prices at the gas pump. Chevron announced test results showing a significant oil discovery off of our coastline that could increase U.S. oil reserves significantly, perhaps by as much as 15 billion barrels. This comes not a moment too soon after a summer of paying record prices at gas stations around the state and country.

Not only is this good for the nation, but it could be very significant for our state because of a bill I introduced in Congress. My bipartisan bill, the Deep Ocean Energy Resources Act of 2006 (H.R. 4761), would provide Louisiana with offshore energy royalties from both current and future energy leases, including the huge Chevron find. My bill passed the House of Representatives, and the U.S. Senate passed a similar, but less comprehensive version. Now leaders in Congress are working out final details of a bill to send to the President for his signature.

The announcement from Chevron this week serves as a reminder to the rest of the nation of the critical and vital role Louisiana plays in providing a significant portion of the U.S. energy supply. This discovery would result in a considerable amount of offshore royalties for Louisiana if the language that is currently in my bill is agreed to in conference committee. While compromises must be reached, I have strongly encouraged the leadership to give Louisiana our fair share of these royalties.

My bill would provide Louisiana with $9 billion over the first 10 years and nearly $2 billion a year once fully implemented. The Senate bill would provide significantly less money to Louisiana because it primarily deals with only future leases in the Gulf of Mexico while my bill would apply to existing and future leases in the region, for example, including the Chevron find.

Newspapers in Louisiana agree that we must fight for our fair share. There were two stories that ran this week that I wanted to share with you on this issue:

Houma Courier story

One highlight of the editorial: "The royalties that the state could get from the deal U.S. Rep. Bobby Jindal, R-Metairie, was able to get his colleagues in the U.S. House to sign off on would be richer."

The Times-Picayune story

One highlight in the editorial: "But in fairness, Louisiana also should benefit from the royalties that this new production will bring. A House bill sponsored by Rep. Bobby Jindal would give Louisiana and other coastal energy-producing states a share of royalties from wells drilled on existing leases -- like this one. A more narrow Senate bill applies only to new drilling in Lease Area 181, a section of the eastern Gulf of Mexico."

National Senate leaders support our efforts

In addition, national Senate leaders spoke out this week and said that legislation concerning offshore energy is a priority. They also said that a compromise should be able to be reached by the end of September.

These comments by the Senate Leadership are a great sign that both sides have listened to our calls for a compromise so we can send a final bill to the President, and ensure that Louisiana begins to receive a fair portion of offshore energy royalties. There are still important differences for Louisiana that remain between the two bills, and I will continue to push for the best deal for Louisiana, while ensuring that a compromise can be reached and passed soon. We cannot sacrifice the good, while trying to achieve the perfect. Too much is at stake for this to happen.

Some highlights from the Senate leaders comments in a Capitol Hill publication:

Senate Energy and Natural Resources Committee Chair Pete Domenici (R-NM), said that despite unresolved differences between the two bills, Congress will "get it done" before lawmakers leave to return to their districts at the beginning of October.

Senate Majority Leader Bill Frist (R-TN) said that the offshore energy issue is high on the agenda this month because the legislation could lead to lower gas prices, an area where "the typical American is feeling squeezed in terms of cost of living."

I will continue to push my colleagues to come to the table willing to negotiate, so that we can get a bill to the President soon.

Kicking off the campaign!

Thank you to all of you who came out to celebrate at the Memorial Day picnic in Kenner this week. My family and I had a great time visiting with so many of our friends and supporters!

In addition, many of you have signed up to help with our Friendly Neighbor program, so I wanted to tell you a little bit more about it. By signing up to help as a Friendly Neighbor, you are joining a great group of people who are committed to making our state a better place.

Friendly Neighbors are an invaluable part of our campaign efforts, and serve as a direct link from the campaign to your individual neighborhood. It takes a very small time commitment, but can have a huge impact on this election.

Friendly Neighbors will:

* Share with your neighbors why you support our campaign before Election Day
* Remind your neighbors to vote on Election Day

We will be sending out a special neighborhood campaign kit to our Friendly Neighbors later this month.

If you have not signed up to be a Friendly Neighbor yet, I hope you will email info@bobbyjindal.com to help win this election! You can also request a yard sign to display in the First District or a bumper sticker for your vehicle. It is going to be an exciting campaign, and I hope you will join us in our efforts.

As always, please feel free to contact my offices if we can be of assistance to you.

Sincerely,
Bobby Jindal

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