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Billionaire environmentalist wants California to enact 'extraction tax' on energy companies
2014-04-09 09:23:00| Climate Ark Climate Change & Global Warming Newsfeed
Bloomberg: Billionaire environmentalist Tom Steyer is lobbying for a new law in California that would force energy companies to share as much as $2 billion of the states oil wealth with residents. The proceeds would come from an extraction tax -- fees producers would pay on their crude oil output. Similar taxes already exist in most major drilling states such as Texas and North Dakota, with California a longtime holdout. The tax might be used to pay a dividend directly to California residents, such...
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Category:Electronics and Electrical