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Posts Tagged ‘petroleum’
Well, Those Oil Extraction Tax (aka “Oil Extraction Fee”) People are Trying to Get Half a Million SignaturesTuesday, August 16th, 2011
Here are the deets on an oil extraction tax / fee proposition that you’ll be able to vote for in 2012, if it qualifies with half a million signatures by next month’s deadline:
A Tax on California Oil Initiative (11-0004) has been approved for circulation in California as an initiated state statute. To earn a spot on the state’s 2012 ballot, sponsors of the initiative must collect 504,760 signatures by September 30, 2011. A letter requesting a title and summary for the proposed initiative was signed by Peter Mathews, Frank Dawoodjee, and Paul Garver, and was received by the Attorney General of California’s office on March 14, 2011.
Tax on California Oil. Initiative Statute. Official summary:
“Imposes 15 percent tax on value of each barrel of oil extracted in California. Allocates oil tax revenue to non-capital educational funding: 30 percent to K-12; 48 percent to community colleges; 11 percent each to California State University and University of California. Prohibits producers from passing tax on to refiners, gasoline stations, or consumers. Prohibits loan of oil tax revenues to General Fund. Prohibits reduction of regular education funding based on additional revenues from tax.”
Summary of estimated fiscal impact:
(This is a summary of the initiative’s estimated “fiscal impact on state and local government” prepared by the California Legislative Analyst’s Office and the Director of Finance.)
“Increased state revenues from a new charge on oil extraction of around $2 billion to $3 billion per year, dedicated to education.”
Anyway, I didn’t know about this:
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But they’re out there, trying to finish up the huge job of getting all those sigs…
This was the scene today in the Inner Richmond on Geary Boulevard – artic 38 Geary bus #6243 had its biodiesel engine spill its guts on the street right in front of the Mel’s Drive-In. That shiny black stuff isn’t coolant, it’s 32 or so quarts of motor oil. It got tracked around a bit by impatient drivers.
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The mechanic sent to help got started spreading sawdust with a quickness so the oil wouldn’t get into the sewer system. He was looking forward to the hazmat team showing up, it appeared.
Maybe the engine threw a rod or something. It’s soul is probably already up at the MUNI service yard in the sky.
This was the scene today down at UCSF Mission Bay where the Secretary of the Interior got an earful about how San Francisco doesn’t want offshore oil drilling anytime soon. Poor Interior Secretary Ken Salazar got an earful:
“Our state is saying clearly to you today, no,” Sen. Barbara Boxer told Salazar at the opening of the hearing at the UC San Francisco Mission Bay campus. The California Democrat said the state’s coastline is a huge economic asset “just as it is.”
Logistics, that’s what the protesters had going for them today. You couldn’t miss all the furries, like this seal for example. Click to expand:
Or this polar bear, played by nine-month-old Kai Savage, assisted by Miyo Sakashita of Oakland. “23 DAYS TO SAVE ME”:
This is the what you could see on the long walk to the protest area. A passer-by ID’ed these animal’s as “shark, dolphin, whale, orca” in rapid-fire succession. Right, one of those anyway.
Dude was selling American Apparel T-shirts for just $5. What a country!
The only people not wearing shirts were selling shirts. Go figure:
The Sec-Int was prepared for all sorts of shenanigans. For example, “full body costumes” were not allowed inside, officially.
Only Time Will Tell what the Interior Department is planning.