Anti-oil initiative should be defeated

Anti-oil initiative should be defeated

Santa Barbara Press News | May 20, 2014 | by Lanny Ebenstein

Many millions of dollars are on the line for the county each year. It is estimated that every 1,000 additional barrels of oil of production a day in the county leads to about an additional $1 million of tax revenue to the county each year. It may be possible to develop 10,000 to 20,000 barrels a day of additional onshore oil production in the coming years — that would be $10 million to $20 million per year of additional revenue to the county of Santa Barbara lost, if the initiative this November passes.

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Californians for Energy Independence is a coalition that supports state and local policies that allow for continued domestic energy production and opposes those policies – such as oil taxes and energy bans—that would hinder production and increase reliance on foreign oil.

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