BATON ROUGE, LA (WAFB) - Louisiana's tax exemption for oil drilling by fracking is gushing tax dollars by more than a billion dollars over the past five years, according to audit report.
"We've gone from a handful of wells when it first started to 3,000 wells. So it may be that that exemption is no longer needed," said Performance Audit Director Karen LeBlanc.
Leblanc directed the Performance Audit Services staff in its investigation. She said no other state in America gives a big tax exemption for horizontal well drilling, only Louisiana.
Performance auditors don't make recommendations. They simply find out the facts so legislators can make smart decision.