Posted December 23, 2013
State Already Taxes Oil in many Ways
San Francisco Chronicle (Catherine Reheis-Boyd): Tom Steyer, the San Francisco billionaire environmentalist, has launched a campaign to increase taxes on energy production in California. He thinks oil companies are allowed to "siphon California resources without providing any meaningful return to Californians."
Beginning an education campaign on inaccurate claims doesn't bode well for the quality of the educational experience.
To claim Californians receive no meaningful return for the oil we produce is puzzling. Oil companies in California generate $6 billion in tax revenues for state and local governments, according to an analysis by Purvin & Gertz in 2011. While it's true California does not have an oil severance tax per se, California taxes oil companies and oil production in a variety of other ways.
Read more: http://bit.ly/1kzQ4aP
More industry news:
- Energy Secretary: Fracking Won’t Cook the Planet: http://bit.ly/1ci5tc6
- Pennsylvania Community Sees Investments from Marcellus Shale: http://bit.ly/1fBq62P
- Applying Creativity to a Byproduct of Oil Drilling: http://nyti.ms/1987Ytn
- EIA Projects Strong Growth in U.S. Oil and Natural Gas Production: http://bit.ly/JZdN6K
- UTSA Study: $14.5 Billion Permian Basin Impact: http://bit.ly/1fVxFSO
- New Fracking Technique Could Cut Demand for Freshwater: http://bit.ly/JZe8X0
ABOUT THE AUTHOR
Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.