Press Conference: Assemblymember Pedro Nava and Others Announce the Introduction of the Oil Industry Fair Share Act
Date :
10/26/2009
Source :
The California Channel
Type :
Press Conference
Category :
Legislative
Description :
Assemblymember Pedro Nava (D–Santa Barbara) and others announce the introduction of ABX6 1, the Oil Industry Fair Share Act. The bill would establish a 10% severance tax on the gross value of every barrel of oil produced in California and prohibit oil companies from passing the tax on to the consumer. Revenues from the severance tax would be deposited into the state's General Fund.
