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Re: Another Plan to raise gas taxes again
Author: Perlman Pete
Date: 02-14-2019 - 09:10
Commenter Wrote:
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> Here is the California tax on oil and gas
> extraction.
>
> Tax Type: Oil and Gas Production Assessment
>
> Tax Description: $0.5038349 on each barrel of oil
> and 10,000 cubic feet of natural gas produced.
> Rate established annually each June. Ad valorem
> taxes administered by county.
>
> Revenue Allocation: No statewide severance tax.
> Assessment supports the Department of
> Conservation’s Division of Oil, Gas, and
> Geothermal Resources.
>
> In other words, as it is now there is a tax of
> about one cent per gallon of oil to pay for the
> regulation of the oil business.
>
> There is now no state severance tax, unlike such
> bastions of conservatism as Texas.
>
> Texas
>
> Tax Type: Gas and Oil Production Tax
>
> Tax Description:
>
> 7.5 percent tax of gas and liquid hydrocarbons
> market value
> 4.6 percent tax of oil market value or 4.6
> cents for each barrel of 42 standard gallons of
> oil produced in this state, whichever rate results
> in the greater amount of tax
> 4.6 percent tax of gas condensate market value
> for gas condensate
> Incentives and exemptions for inactive wells,
> marginal wells and high cost gas wells
>
> Revenue Allocation: 0.5 percent of revenues used
> for enforcement of production tax and tax
> provisions
>
> Remaining revenues: 25 percent deposited in
> the Foundation School Fund and 75 percent
> deposited in the General Revenue Fund.
>
> There is also an Oil and Gas Field Clean-Up
> Regulatory Fee, but lets not get too deep into the
> weeds.
>
> So California is planning to join the other oil
> producers and have an oil and gas severance tax.
> Note that this only applies to gas and oil
> extracted in California of course, not to oil
> refined in California from other sources.
Cali is adding a 10% tax ber barrel (Texas is 4.5) thats roughly $6.50 added per barrel passed onto consumers.
Bloomberg
Like others said. “Orange man bad”. We pass tax to fight Orange man and the rich. As long as their constituents belive this they will keep getting bent over.
-------------------------------------------------------
> Here is the California tax on oil and gas
> extraction.
>
> Tax Type: Oil and Gas Production Assessment
>
> Tax Description: $0.5038349 on each barrel of oil
> and 10,000 cubic feet of natural gas produced.
> Rate established annually each June. Ad valorem
> taxes administered by county.
>
> Revenue Allocation: No statewide severance tax.
> Assessment supports the Department of
> Conservation’s Division of Oil, Gas, and
> Geothermal Resources.
>
> In other words, as it is now there is a tax of
> about one cent per gallon of oil to pay for the
> regulation of the oil business.
>
> There is now no state severance tax, unlike such
> bastions of conservatism as Texas.
>
> Texas
>
> Tax Type: Gas and Oil Production Tax
>
> Tax Description:
>
> 7.5 percent tax of gas and liquid hydrocarbons
> market value
> 4.6 percent tax of oil market value or 4.6
> cents for each barrel of 42 standard gallons of
> oil produced in this state, whichever rate results
> in the greater amount of tax
> 4.6 percent tax of gas condensate market value
> for gas condensate
> Incentives and exemptions for inactive wells,
> marginal wells and high cost gas wells
>
> Revenue Allocation: 0.5 percent of revenues used
> for enforcement of production tax and tax
> provisions
>
> Remaining revenues: 25 percent deposited in
> the Foundation School Fund and 75 percent
> deposited in the General Revenue Fund.
>
> There is also an Oil and Gas Field Clean-Up
> Regulatory Fee, but lets not get too deep into the
> weeds.
>
> So California is planning to join the other oil
> producers and have an oil and gas severance tax.
> Note that this only applies to gas and oil
> extracted in California of course, not to oil
> refined in California from other sources.
Cali is adding a 10% tax ber barrel (Texas is 4.5) thats roughly $6.50 added per barrel passed onto consumers.
Bloomberg
Like others said. “Orange man bad”. We pass tax to fight Orange man and the rich. As long as their constituents belive this they will keep getting bent over.
