FORIMMEDIATERELEASE April25th,2013 KevinSinger 5108478938 ksings0201@gmail.

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Campaign for Oil and Gas Extraction Tax Begins Signature Gathering
AproposedballotinitiativethatwouldenactataxonoilandgasextractedfromCaliforniawillbegranted summaryandtitlebytheOfficeoftheAttorneyGeneraltoday.CaliforniansforResponsibleEconomic Development,thegroupbehindthemeasure,nowhas150daystocollect505,000signaturesiftheywishto qualifyitforthe2014ballot. Inordertocollectthesignaturesthecampaignistakingatwoprongedapproach,usingbothgrassroots organizingandmeetingwithdonorstoraisemoneyforpaidsignaturegathering.Inthethreemonthsleading uptoofficialsummaryandtitle,109volunteersfromacrossCaliforniahavesigneduptohelpgather signaturesinadditiontotheorganizationssupportingthebill.AspeoplelearnaboutthebenefitsofCMED decreasedtuition,renewedcitiesandparksandjobcreationfueledbygreenenergytheyareeagertosign onandhelp,explainsJackTibbetts,authorandleadproponentofthecampaign. TheCaliforniaModernizationandEconomicDevelopmentAct(CMED)placesa9.5%taxontheoilandgas that'sextractedfromCalifornia,andwouldbringinover$2billionofnewrevenuetothestate.$1.2billion wouldbeallocatedinfourequalpartstowardsK12,CaliforniaCommunityColleges,CaliforniaState UniversityandtheUniversityofCalifornia.Another$400millionwouldbeusedtoprovidebusinesseswith subsidiesforswitchingtocleaner,cheaperformsofenergy.Theremaining$300millionwillbeallocatedto countygovernmentsforinfrastructurerepair,publicworksprojects,andfundingpublicservices. Thebillhasalreadyattractedtheattentionandsupportfromawidevarietyofinterestgroupsandindividuals, andtoutsagrowinglistofendorsementsontheirwebsite(www.cmedact.org/endorsements).InFebruary, formerUSSecretaryofLaborRobertReichendorsedCMEDstating.Usingataxonoilextractedfromunder CaliforniatohelpfinancetheeducationofCaliforniansshouldbeanobrainer.Itwillonlyimproveour schools.TherealquestioniswhyCaliforniahasntdonethislongbeforenow. Dr.DanielKammen,NobelPrizerecipientandcoauthorofProp87(asimilarmeasureonthe2006ballot), wholeheartedlyendorsedtheproposal:Placingasmallsurchargeonpetroleumandgasthatisextracted fromCaliforniacanonlybenefitourstate.Itwouldspurinnovationontheproducersidetoreducecostsand bringinfundsthatarecriticallyneededtogreentheeconomy,reinvestineducation,andrenewcitiesand parks.TheCaliforniaModernizationandEconomicDevelopmentActisthebestwaymovingforwardto ensurethatalloftheseprioritiesaremet. Lastweek,theCaliforniaModernizationandEconomicActgainedthesupportofStateSenatorNoreen Evans,whoiscurrentlysponsoringherownversionofanextractiontaxintheSenate,SB241,tofund educationandparksinCalifornia.Shehadthistosayabouttheproposedballotinitiative:"TheCalifornia ModernizationandEconomicDevelopmentActclosesaglaringcorporatetaxloopholeinCaliforniathathas benefitedbigoilforfartoolong.IabsolutelysupporteffortsthatwillallowCaliforniatocollectonthesevast andirreplaceablenaturalresourcerevenuesthatshouldfundoneofthemostimportantcoreservicesof governmenteducation.It'spasttimeCaliforniaendstheoilindustry'sfreerideandfinallysetsasolid revenuestreamtowardsfundinggovernment'seducationobligations." Goingforward,theCMEDcampaignwillbeworkingcloselywiththeSenatorsofficetoensurethatanoil

severancetaxisenactedsaidTibbetts.ThecampaigntoqualifytheCaliforniaModernizationand EconomicDevelopmentActwholeheartedlysupportsSenateBill241andweareencouragedbytheefforts beingmadebySenatorEvans.Californiaisincriticalneedofnettingadditionalrevenueforeducationand otherimportantservicesthatwillpromotejobgrowthandadvanceourpeopleandoureconomy.However, justasoilcompanieshavetherighttoextractandprofitfromourresources,Californiahastherighttosome compensationforthemineralwealthremoved.ShouldtheSenatefailtovoteandpassSB241,our campaignwillworkwithpublicofficials,donors,interestgroupsandstudentstoproduceanextractiontax forthe2014ballot.