Frank Wagner is a Virginia state Senator from Virginia Beach, co-owner and executive vice president of
Davis Boat Works, Inc., and an NAM board member. And a visionary when it comes to energy development and the state’s economic future:
Wagner introduced a bill for next week’s transportation special session that would allocate 40 percent of any oil and gas royalties from drilling off Virginia’s coast to transportation needs. He said experts estimate those royalties would be worth $200 million a year, so his plan would devote $80 million a year to transportation.
Meanwhile, Delegate Chris Saxman has proposed allocating the entire revenue stream to transportation.
Allocation of revenues is a matter best left to the state legislators and voters, of course, but the entire nation needs the energy.
Energy has also emerged as a top issue in the U.S. Senate race in Virginia between two former Governors, Democrat Mark Warner and Republican Jim Gilmore. Warner wants to crack down on speculators, and Gilmore wants to increase supply.
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