So About that O

The LA Times comes out against Measure O, which would impose an oil extraction tax-- a "$1.44-per-barrel tax"--saying it would re-confirm LA's reputation as being unfriendly to businesses. The Times also reports that there's a negative campaign being launched by drillers, who claim the tax would raise gas prices. Not so, says the LAT. "Los Angeles oil, as the drillers admit, is not the light, sweet crude that ends up in North American gas tanks; it's lower-quality goo that's more likely to be processed into roofing materials." And here's the No On O site, largely supported by, yes, many business-related entities. [LAT]