Comments by BAD886

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Posted on July 11 at 12:14 p.m.

You are kidding right Vlhamilton? there are so many things wrong with you statement i dont where to begin.

California is one of the only states to tax oil in ground, classifing reserves as real property. so companies are taxed on what they havent even made money on yet. California oil companies are right on par with the rest of the country on how much they are taxed.

Wasting water? i would love for you to give me the figures on that, i know plenty of farmers that use a 100 times more water than any oil company and that is in 1 day. 1.2 trillion gallons of water is used by farmers each year. as opposed to 1 million per well @ 364 total wells last year. less than .001 percent

where is your back up data of it contributing to seismic activity? even if this were the case, do you understand why major earthquakes happen? its when two plates build up so much friction that when they finally do slip it causes an earthquake. would small activity help release some of this tension? cause more smaller earthquakes? that would be a good thing, no?

What about the giant profits of oil companies, yes they are making record profits, i wont argues with that, but they are also investing record amounts of capital. if you wanted to make a billion dollars, no problem, just give me 10 billion first. Most oil companies average around 11% returns on investment. why don't you look at pharmas, computer software, or alcohol production and sales. all above 20%

On Grand Jury: Tax Oil

Posted on July 8 at 4:47 p.m.

i know, i was'nt all that serious about the tax, but it is a slippery slope when you tax business, any specific business, because of your own shortfalls

On Grand Jury: Tax Oil

Posted on July 8 at 4:38 p.m.

I wonder if Santa Barbara County realizes that when you add a severance tax you decrease the property taxes of the top two taxpayers in the county, as well as a number of other high prop tax payers. That money is then taken away from schools, fire, and police and placed into a separate account. If the county does not reduce spending, unless the county can guarantee it goes back to schools, this money will go to pensions and not get back to the place it was originally intended, actually creating a tax shortage for local schools.

To byronsake why don’t you check out it shows the top two tax payers are oil companies, so yes they are the hand that feeds you.

I also wonder how the environmentalist will feel about their county relying on "nasty oil" taxes for their county to survive. Once they rely so heavily on those taxes it will be impossible for the environmentalist to get the production companies out of SB County.

Here’s an idea tax each restaurant food bill 1 extra dollar for non-locals and .50$ for locals, I bet there are far more tabs at restaurants than barrels of oil produced each day! Besides why should local people profit off the natural Santa Barbara climate that brings so many tourists in? If you can afford to live in Santa Barbara you must be able to afford an extra .50$ right?

Interesting reaction to a related article by Mr. Welch

On Grand Jury: Tax Oil

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