“A surprising $100 million has been raised so far in the fight over the California oil tax. Californians will vote in November on whether to put a tax on oil extracted from California wells.”

There’s so much at stake in California, because its economic clout often means other states follow its lead. To put this $100M number in perspective, that’s 40 percent of what it cost to run for U.S. president last time, according to this summary in the Mercury News (registration required) about the fight between Silicon Valley supporters (including venture capitalist Vinod Khosla) and Chevron and other oil interests.”

UPDATE:
Khosla responds to conflict-of-interest charges

REFERENCE:
Vote No on Prop 87
LWV: Non-partisan, in-depth analysis of Prop. 87

RELATED:
Prop. 87 — Economic Disaster for California

DISCLAIMER: CaliforniaConservative.org stands against Prop. 87, considering it a bad idea and an even worse policy that’s only going to force taxpayers to pay for more government spending without accountability. We’ve had enough of that. Because of our position, we’ve accepted some advertisements from those also against Prop 87 (see blogads). However, the peanuts paid for hosting the ad has no influence our endorsement. Our decision was made when we first read the policy.

Technorati Tags: California, Elections, Energy, Prop. 87

1. Are there any valid arguments for the proposition? Other than “OK, we’re going to tax California oil companies so that they’ll move to Oklahoma”.

   Comment by ZZMike — October 9, 2006 @ 4:43 pm