Californians for Energy Independence Issues Statement Regarding San Benito County Initiative to Ban Safe, Proven Oil Extraction

Californians for Energy Independence Issues Statement Regarding San Benito County Initiative to Ban Safe, Proven Oil Extraction

April 22, 2014

Following the news that proponents of a hydraulic fracturing ban initiative in San Benito County plan on turning in signatures, Californians for Energy Independence issued the following statement:

“Our job climate and economy remain the most important issue for Californians.  To support a healthy economy, California needs a stable, affordable source of energy.  If we ban proven, safe domestic production here, we will be forced to rely heavily on imported oil from other states or carried by ship from overseas.  It makes sense for both our environment and our economy to produce the oil we need right here in California, where we have the strongest environmental protections in the nation for oil production,” said Allan Zaremberg, President and CEO of the California Chamber of Commerce.

California’s oil and gas industry provides hundreds of thousands of jobs and pays billions in tax revenue each year, according to a new study by the Los Angeles Economic Development Corporation (LAEDC) released this week by the Western States Petroleum Association.

The LAEDC study demonstrates the petroleum industry on the Central Coast is a huge source of jobs and economic activity.  Highlights from the report include:

  • In 2012, the petroleum industry contributed to 24,210 total jobs on the Central Coast and generated more than $1.6 billion in labor income.
  • On the Central Coast, the state and local taxes paid by companies and individuals involved in the petroleum industry total $1.1 billion.
  • Jobs created or supported by the petroleum industry statewide generate $40 billion in labor income, which is 3.1% of California’s total labor income.
  • Statewide, the petroleum industry’s total economic value is $113 billion, which is 5.4% of California’s total gross domestic product and is larger than the economies of 17 U.S. states.

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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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