Summary
An oil severance tax has been suggested as one way to increase state revenues in order to avoid or reverse state program and service cuts caused by California's chronic budget problems. Newspapers all over the state have written in favor of adopting some version of an oil severance tax. Predictably, these proposals have been met by well-worn negative reactions from the oil companies.
California is the only oil-producing region where the oil companies are not charged some form of a severance tax, a fee paid for the right to "sever" natural resources from the land. Even oil taken from under federal waters off the California coast is subject to federal royalty, but in California's territory - nothing.See the full content of this document
Extract
Extractors Should Pay for State's Resources
The League of Women Voters does not oppose imposing a severance tax on oil extraction in California. In fact, we support measures to ensure revenues that contribute to a system of public...
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