What a coincidence!
As I was about to introduce my resolution to the Culver City Democratic Club last night, I found that someone else has taken the initiative to try and put a tax on the oil companies through the initiative process.
Rescue Education California is circulating Initiative 11-0004, titled “Tax On California Oil, Revenues to Education, Initiative Statute.” Their phone number is 562.234.3319.
I will be circulating this petition at all my appearances and at my coffee chats during my campaign for School Board.
Now who said I had crack pot ideas?
Here is the resolution that was passed unanimously by the Culver City Democratic Club:
Resolution Calling for Windfall Profits Tax on Oil Companies
Whereas: The Culver City Democratic Club has passed a resolution against oil drilling in the Inglewood Oil Field.
Whereas: In addition to this resolution, the Culver City Democratic Club has been asked to advocate a statewide progressive windfall profits tax against all oil companies, with the added revenues being allocated to our schools.
Whereas: The windfall profits tax would capture a share of the profits over the cost of producing a barrel of oil from existing oil fields. Currently the price of a barrel of oil ranges from $90-$100 and the cost of production in California is as low as $15 a barrel in some fields resulting in a large “windfall” profit that should be shared with our schools.
Therefore be it resolved that: The Culver City Democrats Club will advocate a windfall profits tax on oil companies throughout the state with the added revenues being allocated to our schools.
In addition, the Culver City Democratic Club will ask the City Council and the School Board to pass a similar resolution.
Mr. Zirgulis may be contacted at zirgulisr@yahoo.com
