Breitling Oil and Gas California Morning Podcast #4

A recent study found that “the tax burden California imposes on oil companies is average when compared to the tax burden imposed by other oil-producing states and additional  9.9 percent severance tax would make California’s tax burden far higher than these other states, reduce oil production, increase our reliance on foreign oil, raise gas prices and eliminate nearly 10,000 California jobs.

A recent study by the University of Southern California explored the impact of using advanced oil-extraction technologies to access California’s vast oil reserves.

Further, a recent USC found that developing these oil reserves could add up to 2.8 million new Californian jobs, bolster the state’s economic growth up to 14.3 percent and increase personal incomes by up to 10 percent. State and local government revenue could grow by as much as $24.6 billion — without a tax increase.

Comments are closed.