Oil initiative (CA) amounts to a pipe dream

Appeal Democrat ^ | Aug. 23, 2006 | Appeal Democrat Editorial

[FairOpinion]

With troubles at BP's Alaskan operation and oil prices gushing above $77 a barrel - and prices at the pump likely to follow in the next few days - now may be the worst time for a ballot initiative likely to increase consumers' fuel costs.

Prop. 87 would impose a new tax on California oil production of $200 million to $380 million a year - the exact amount isn't clear - until a total of $4 billion is reached to fund research into alternative fuels.

Prop. 87's Web site insists that it “makes it illegal for oil companies to raise gas prices to pass along the cost to us.” Poole: “So who's supposed to pay for it, the tooth fairy?”

This is another ill-designed initiative that would tax one group - oil companies, who, despite Prop. 87 supporters' promises, couldn't avoid passing the cost along to drivers - to help special interests. Alternative fuels and conservation are worthy goals, best met through market mechanisms, not initiatives and tax increases.

[FairOpinion]

This proposition should go down in flames.

Arnold opposeses it, because he opposes taxes, Angelides supports it, because he never met a tax he didn't like to levy on the people.

Arnold's and Angelides' stands on the proposition

[mugs99]

Prop. 87 would impose a new tax on California oil production of $200 million to $380 million a year - the exact amount isn't clear - until a total of $4 billion is reached to fund research into alternative fuels

LOL!
Anyone who believes this will result in alternative fuels is a fool.
.

[goldstategop]

More likely it'll pass: people irrationally hate Big Oil and they are easily seduced by demagogues.

(Go Israel, Go! Slap 'Em Down Hezbullies.)

[stylin_geek]

I knew you'd to be on this thread.

Still waiting to hear from Phil.