Guest Speakers Address Retired Teachers Association Print
Wednesday, 21 October 2009 09:08

From KFLY Channel 10 Lafayette

Ronald Eldridge
Ronald Eldridge

The Louisiana Retired Teachers Association fall meeting came to a conclusion Wednesday after three days of fellowship and workshops, which included a number of guest speakers.

One in particular, a financial expert, laid out what he says is a simple and effective way to insure Louisiana will always have all the money it needs.

Ronald Eldridge, who has degrees in accounting and computer science, says the Bayou State could bring in billions of dollars in revenues simply by putting an excise tax on all pipelines currently running through the state.

More specifically, a tax on every gallon of oil or every cubic foot of natural gas that passes through any pipeline, more than 3,000 feet long and over 20 inches in diameter.

Speaking hypothetically Eldridge says a three cent per cubic foot tax on gas and a fifty cent per gallon tax on liquids would generate 198 billion dollars a year in revenues.

But for such a plan to become a reality it first needs legislative backing.

"The basic plan is so we can encourage governors, senators to bring this up for discussion put it into a bill and an act something like this" says Eldridge.

Under Eldrige's plan the majority would come from oil and gas pipeline companies, but he says other industries as well as local businesses and residents would also be responsible for a portion of the total.




Last Updated on Monday, 22 February 2010 19:19