There’s an estimated 27 million-plus barrels of oil extracted from Los Angeles County wells each year. Measure O, which will be on the March 8 ballot, would require oil producing businesses to be taxed $1.44 per barrel. Supporters of Measure O argue it could raise $4-million in badly-needed revenue for Los Angeles and that other Southern California cities like Beverly Hills, Inglewood and Long Beach have already successfully imposed such taxes. Critics counter it would raise taxes, increase gas prices and cost jobs. Is this the right way to raise new revenue for the city? Would passage result in higher prices at the pump? What are the possible effects on small businesses?
Jan Perry, Los Angeles City Councilwoman 9th District (which includes Bunker Hill, Little Tokyo, and South Los Angeles)
Ted Green, Campaign Manager, No on O