Fracking moratorium, oil excise tax bills die in committee

Fracking moratorium, oil excise tax bills die in committee

Taft Midway Driller | June 04, 2014 | by Doug Keeler

The oil industry is breathing a sigh of relief as two bills in the California legislature aimed at halting fracking and taxing oil and gas production are dead, at least for now. Senate Bill 1017, the latest attempt to impose a 9.5 percent tax on oil produced and channel the money raised primarily to education, died in committee. Senate Bill 1132 likewise died in committee when moderate democrats either opposed the measure, which would have placed a moratorium on fracking until it was safe, the Sacramento Bee reported.

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