SACRAMENTO /California Newswire/ — Assemblymember Pedro Nava (D – Santa Barbara) will be joined by seniors, school employees, healthcare providers, environmentalists and others to announce the introduction of the Oil Industry Fair Share Act at a Capitol news conference on Monday, October 26, 2009 at 11 a.m. in Room 1190 of the State Capitol.
â€œCalifornia oil companies are getting a free ride. California is the only major oil producing state that does not charge a severance tax on oil extraction. It is time for California to catch up with Alaska, Texas, Alabama, and Arkansas. We need to collect the peopleâ€™s share of this potential revenue source by forcing Big Oil to pay its fair share,â€ said Nava. â€œCalifornia has been giving away public assets to Big Oil for far too long.â€
Nava will introduce legislation in the Sixth Extraordinary Session to create an oil severance tax of 10% on the gross value of each barrel of oil pumped by companies in California. This tax will provide approximately $1.5 billion in additional revenue to the California general fund that can be used for public safety, education, human services, and other vital programs.
Protecting consumers and the environment has been a primary focus of Navaâ€™s career.
Who: Assemblymember Pedro Nava, Congress of California Seniors, California School Employees Association, Environment California and others.
What: News Conference regarding introduction of the Oil Industry Fair Share Act
When: Monday, October 26, 2009, 11 a.m.
Where: State Capitol, Room 1190
Please contact John Mann with Assemblymember Navaâ€™s Office for more information at 916-718-7420.
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