Grand Jury suggests oil tax

Millions could be generated in Santa Barbara County

John Palminteri, KEYT NewsChannel 3 Senior Reporter,
POSTED: 06:46 PM PDT Jun 27, 2013    UPDATED: 06:51 PM PDT Jun 27, 2013 

The Santa Barbara County Grand Jury is recommending the county consider a tax on oil production to help make money and solve budget problems.

A report released this week says if the county had a $1.00 per barrel tax, added to crude produced onshore, in the last year alone, it would have brought in an excess of $3 million dollars.

This kind of tax would have to be approved by three-quarters of the voters.

Opponents say an oil tax would slow oil company interest in county projects and eventually cost jobs.

County supervisors have discussed the idea in the past but have not supported a plan to take it to the voters.