Oil tax call
The United States should impose a tax on imported oil in order to help cut the huge Federal Budget deficit, the “New York Times” has said in an editorial. “If the collapse of the Organisation of Petroleum Exporting Countries cuts the price (per barrel of crude oil) to SUS2O, as is now anticipated, a SUSB fee on each imported barrel would have the effect of paying ourselves what we have been paying to foreign oil producers.” It said Americans would hardly feel the pinch since petrol and heating oil costs now reflect an average of about SUS2B a barrel of crude and that a significant chunk of the SUS2OO billion annual Budget deficit could be eliminated.
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Press, 27 December 1985, Page 21
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119Oil tax call Press, 27 December 1985, Page 21
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