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U.S. Department of Energy
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S. 215: This Act may be cited as the Energy Security Tax Act, introduced in the Senate of the United States, One Hundred Second Congress, First Session, January 15, 1991

Book ·
OSTI ID:5115055
This bill would amend the Internal Revenue Code of 1986 to impose a fee on the importation of crude oil or refined petroleum products. The tax would be the excess, if any, of $20 per barrel over the most recently published average price of a barrel of internationally traded oil, and the tax on refined products would be the excess, if any, of $22.50 per barrel over the most recently published average price of a barrel of internationally traded oil. Petrochemicals would be taxed at the refined product rate, except it will be calculated as a barrel equivalent of crude oil feedstocks used in the manufacture. The Secretary of Energy is authorized to determine the average price of oil by finding the average for the preceding four weeks.
OSTI ID:
5115055
Country of Publication:
United States
Language:
English