Mark Leno and Noreen Evans Bring Back Oil Extraction TaxBrian Leubitzbyline‚ Feb. 14‚ 2013
When you ask California voters about things that we can do about the California budget, one of the more popular items that is usually floated is an oil extraction tax. California is the only major energy producing state without a tax, and it just makes zero sense.
Yet when it comes down to brass tacks and ballot boxes, hordes of oil cash usually swoops in to kill the measure. But Senators Noreen Evans (D-Santa Rosa) and Mark Leno (D-San Francisco) are looking to bring the topic back.
"California is the largest -- and only -- oil producing state in the nation that does not tax its vast oil resources," said Evans in a written statement.
If you look back to the Prop 87 campaign half a decade ago or so, what you see is that the oil companies try to scare voters into thinking that somehow all of this will fall back down upon the consumer. Yet, in reality, sheer economics says that simply cannot be.