oil severance tax

California Legislature Suspends Oil Severance Tax: Wimp-out or Long Game?

Perhaps the most obvious fiscal reform for California lies in an oil severance tax, which charges producers per barrel coming out of the ground.  California is the only major oil-producing state without such a tax (the miniscule fee to fund the Department of Oil, Geothermal, and Geophysical Resources doesn’t count), and because of the international …


Time for a California Oil Severance Tax

California’s new Democratic supermajority will be sorely tempted to raise taxes and fees across the board, which I have earlier suggested is a bad idea politically.  But that hardly means that it should reject new revenues altogether, and the easiest place to start would be an oil severance tax. The oil severance tax works exactly …


What Do You Do With a Supermajority? Be Very Careful!

As Cara observes, California Democrats seem to have achieved the unachievable in Sacramento — a 2/3 majority, allowing them to raise taxes without permission of the GOP.  It’s not quite there, because a couple of state Senators were elected to Congress, and as soon as they take their seats, special elections will need to be …