Proposed Fracking Ban May Prove Costly for Santa Barbara County

Proposed Fracking Ban May Prove Costly for Santa Barbara County

Public CEO | August 19, 2014 | by Public CEO

Oil companies, both large and small, contribute over $291 million to Santa Barbara’s economy and employ several thousand workers along the Central Coast. According to an economic impact report commissioned by the Santa Maria Valley Chamber of Commerce, these jobs pay workers an average between $75,000 and $100,000 annually, which is significantly greater than the County’s median household income of $58,000. On top of this, Santa Barbara County collects over $16 million dollars in tax revenue from oil companies—with over 60% of that revenue allotted to local schools.

Read more here.

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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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