Assemblymember Pedro Nava—who was endorsed by the Sierra Club in his quest to become the Democratic Party’s nominee in the race for Attorney General—recently authored a bill to impose a 10 percent tax on oil company revenues from production taking place within state borders. Nava contends his measure would generate $1.4 billion in revenues. Coincidentally, one of Nava’s rivals for the Democratic nomination, Assemblymember Alberto Torrico, has introduced a similar oil-tax bill. Torrico’s bill would impose a 12.5 percent levy on oil industry revenues, and would require the funds collected be spent on higher education. Torrico contends his bill would generate $2 billion.
