Vote “Yes” on 87

Why is Big Oil spending so much money to fight a proposition that UCAN supports?

Because Big Oil is getting a tax-free ride at your expense.

If enacted, Proposition 87 will impose royalty assessments on every barrel of sweet crude oil drilled in California. Few people know it, but California gets more than 40% of its oil from inside the state. Yet unlike other major oil producing states, the industry is largely untaxed on crude oil production.

Even the conservative state of Texas taxes its oil wells, as do Arkansas and Alaska. All of these states have lower gas prices than California, even though the oil is heavily taxed.

Funds from Proposition 87 will be used to find ways of making California less dependent on fossil fuels.

The law is structured to prevent oil companies from passing the costs of the royalties through to consumers in the form of higher prices. The money raised will be used to develop solar power, wind energy, and most importantly, abundant supplies of alternative fuels such as hydrogen and ethanal.

UCAN urges a “Yes” vote on Proposition 87. It’s good for California.

Click here to view UCAN's extreme video debate on Proposition 87

Related Topics: KPBS interview with Michael Shames on the correlation between gas prices and the upcoming election.