Billionaire To Lobby Calif. Lawmakers For Oil Tax

SACRAMENTO, Calif. (AP) — Billionaire environmentalist Tom Steyer says he will launch a campaign next year urging California lawmakers to approve taxes on companies that extract oil in the state. The major Democratic donor said Monday he thinks it is ridiculous that California is the only oil-producing state that does not levy such a fee, which could generate billions of dollars a year. Proposals for an oil tax have stalled repeatedly amid pressure from oil companies, which are major donors to lawmakers' campaigns. Steyer says he will seek to persuade lawmakers through public polling that voters support taxing major oil producers. It could be a hard sell in 2014, an election year.

Topics:  ap    billionaire   tom steyer   democratic   proposals   steyer   newsok   calif    steyer   lawmakers   oil tax   major   year   companies   state   
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