Hawaii's is deeply dependent on imported oil for electricity, gasoline, and jet fuel. As the price of oil continues to rise, these items get more expensive for all of us. Importing oil also means we send billions of dollars out of state, and that we add to the global warming crisis. This measure would place a fee on every barrel of oil, with fees used to fund alternative energy and food security projects. The current bill would add a $1.00 fee on each oil barrel, generating $22 million per year to be split among funds for renewable energy and efficiency projects, local agriculture and food, and other programs. Critics argue that the barrel fee increases the cost of living during an already hard time, especially for the poor who spend more of their paycheck on essential items. The estimated impact of a $1.00/barrel fee is about $0.03 per gallon of gas, and about $2 per monthly electricity bill. If the fees are invested properly in local energy and food, it could protect families from the rising price of oil in the future. On balance, we think we should support of this measure. Current bill: HB2421.
You can directly view the latest version of this bill, track bill status, and read the testimony of others on the Hawaii State Legislature's website for Bill Status and Documents.
Comments posted prior to adopting Facebook comments.