Does California Need An Oil Severance Tax?
I used to think it didn't sound like that bad an idea. After all, every other state has one, don't they? Well, no, not all do. Some, as it is with California, have other forms of taxes that pretty much replace oil severance taxes.
This California Political Review article gives some details on California oil and gas taxation in comparison with other states. I realize many readers probably support increased taxes on oil and gas companies, regardless of how much they already pay. This being California, many don't want more oil or gas extraction in the state, either.
Just thought I'd throw this out there.