Alaska and Texas tax oil as it comes out of the ground and use that money to pay for state government, schools, colleges, etc. Alaska even sends everyone in the state a check with that oil money.
But in California the state refuses to tax oil companies that take our oil out of the ground to sell back to us. Instead it raises college tuition by a third.
California also doesn’t ask its wealthy residents to pitch in and help run the state. Instead it makes it much more difficult for children who are not born to wealthy families to get a university education.
This is the choice California makes when it allows a 2/3 rule that lets a minority block the state from raising the revenue it needs to run the government.
If you tax the oil companies they will pass that cost onto the consumer. They will still have to make money and be profitable… remember that is why they are in business! And with the money they use the continue to invest in more drilling… which is very expensive to do! And last I checked most of us still need gas to drive to and from our jobs so I don’t think taxing the oil companies in California is a wise decision. AND the poor kids can’t go to college is a load of CRAP! I went to college- paid for it all without loans while I worked 40 hours a week- no help from any family or pell grants. And now I can provide for my family and don’t need anyone to continue to give me handouts… break the cycle! We will all be in poverty if we keep trying to make life fair! And the reason this state needs so much money is they give it all away… quit spending and we won’t need to raise more taxes!
As I pointed out before, the amount of revenue gained from royalities on oil and gas in Texas is about 3% of the state budget. California propably can’t estimate their budget deficit within 3$.