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Keyword: noprop87

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  • Oil initiative (CA) amounts to a pipe dream

    08/13/2006 10:34:59 AM PDT · by FairOpinion · 3 replies · 324+ views
    Appeal Democrat ^ | Aug. 23, 2006 | Appeal Democrat Editorial
    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...