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Board Of Supervisors To Discuss Oil Production Tax

Written by KEYT Sports

Story Created: Nov 7, 2011 at 6:46 PM PDT

Story Updated: Nov 9, 2011 at 11:24 AM PDT

Santa Barbara - On Tuesday in Santa Maria, the Santa Barbara County Board of Supervisors will begin discussions on a possible November 2012 ballot measure to tax on-shore oil production within Santa Barbara County.

The last time the county discussed such a measure was 2008 and looking to increase revenues, the county now feels it's the perfect time to once again talk about such an initiative.

If it makes it to the ballot and does indeed pass, it would set a flat-rate tax for every barrel of oil produced and is expected to generate up to $3.5 million a year. However, that's not the case, according to the Western States Petroleum Association. The organization says it would reduce production, cost jobs and not generate significant revenue.

The largest oil producing region in California is Kern County, which has opposed production taxes, but for Long Beach, its 60 cent per barrel tax currently generates $15 million a year.

The discussion will take place at the Joseph Centeno Betteravia Government Center in Santa Maria at 9 a.m.
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