Gov. Kasich cites North Dakota oil taxes in state of the state speech as reason to raise oil taxes in Ohio
You know, we’ve also proposed modernizing the severance tax so that all Ohio can benefit from the oil and gas discoveries in our state.
I know many of you are concerned about that. Since we started talking about it, I think the amount of money invested in our state in our reserves is about $4 billion. People are coming here. The state of North Dakota has a severance tax of 8 or 9 percent. They’re exploding. They can’t even find enough workers out there. The problem is oil companies only pay two dimes of tax, 20 cents, on a $90 barrel of oil. It’s not sustainable. And I want us to think about that.