Patrick F. Taylor
Patrick F. Taylor | |
|---|---|
| Born | 12 June 1937 |
| Died | 6 November 2004 (aged 67) |
| Occupation | Entrepreneur |
| Known for | Founder and CEO of Taylor Energy Company; creator of the Taylor Opportunity Program for Students (TOPS) |
Patrick F. Taylor (June 12, 1937 – November 6, 2004) was an American entrepreneur and the founder and chief executive officer of the independent oil firm Taylor Energy Company.
Taylor Opportunity Program for Students
Taylor demonstrated a strong dedication to both education and humanitarian causes. He created the "Taylor Plan," which was implemented in Louisiana in 1998 to provide tuition assistance to academically eligible students throughout the state. This initiative, called the Taylor Opportunity Program for Students (TOPS), was co-developed with Democratic state Representative Robby Carter from Greensburg.
In its inaugural year, 1998, TOPS covered tuition expenses for 24,163 students with a budget of $54 million. By the 2014-15 academic session, the program supported more than 50,000 students annually with nearly $270 million in funding, approximately 40% of which benefited LSU in Baton Rouge. Projections indicate that expenditures will surpass $300 million. Due to reductions in state funding, universities are increasingly dependent on tuition revenue; LSU currently receives roughly 20% of its operational budget from the state, including TOPS funds, a significant decline from the 70% share reported in 2006.
On May 1, 2017, the Louisiana House Appropriations Committee approved a budget that fully financed TOPS; however, this was balanced by $237 million in reductions to healthcare and other state departments. Committee chairman Cameron Henry remarked that prior overestimates by the Revenue Estimating Committee had resulted in mid-year shortfalls that impacted budget distributions.
Legacy
In 2004, Taylor was ranked number 234 on the Forbes 400 list of wealthiest Americans.
Shortly before his death, one of Taylor Energy’s offshore platforms was destroyed by an underwater landslide caused by Hurricane Ivan. The ensuing Taylor Energy Spill has become the longest-lasting oil spill in U.S. history and is among the largest in volume within the Gulf of Mexico due to difficulties in containment efforts.
Taylor gifted the "Iron Mike" statue to the National Museum of the Marine Corps located in Quantico, Virginia. His widow, Phyllis Taylor, has donated millions toward advancements in education.
Prior to his passing, the Patrick F. Taylor Science and Technology Academy in Jefferson, Louisiana was named to honor him; this institution holds an annual Founder's Day to commemorate his contributions to education across Louisiana. Phyllis Taylor continues her active engagement with the academy by attending events and participating in student programs.
In 2007, LSU dedicated its main engineering facility in Taylor’s name. Two years later, in 2009, he was honored posthumously with induction into the Louisiana Political Museum and Hall of Fame.
Namesakes
- Patrick F. Taylor Science and Technology Academy
- Patrick F. Taylor Building at LSU
- Patrick F. Taylor Hope Lodge