Preliminary analysis of selected economic impacts of a Texas refinery tax: a staff report prepared for the Senate study to replace Ad Valorem taxes
A five percent refinery tax on crude oil inputs at Texas refineries would result in higher refinery product costs to Texas consumers who would buy less and pay more for gasoline and other products. Consumption levels would decrease by 5 million barrels per year by 1985 and the average price per gallon would rise by 3 cents. The total bill for Texas refinery products bought by Texans would increase by $2.6 billion by 1985 and $3.4 billion by 1990. The growth of the refinery industry in Texas could be affected; data limitations do not allow evaluation of this possibility. If, however, refinery expansion is impacted such that exports of refinery products to the rest of the nation do not rise above current levels, growth of the Texas economy would be somewhat impacted while increasing the unit cost of refinery products to Texans. If such a refinery growth slowdown occurred, Texas employment and personal income would be affected negatively by 18 thousand jobs (.2%) and $.27 billion (.4%) by 1985. 3 references, 1 table.
- Research Organization:
- Texas Governor's Energy Advisory Council, Austin (USA)
- OSTI ID:
- 5290365
- Report Number(s):
- NP-4900773; ON: DE84900773
- Country of Publication:
- United States
- Language:
- English
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PETROLEUM
TAXES
PETROLEUM REFINERIES
ECONOMIC ANALYSIS
TEXAS
ECONOMIC IMPACT
GASOLINE
PRICES
ECONOMICS
ENERGY SOURCES
FEDERAL REGION VI
FOSSIL FUELS
FUELS
INDUSTRIAL PLANTS
LIQUID FUELS
NORTH AMERICA
PETROLEUM PRODUCTS
USA
020700* - Petroleum- Economics
Industrial
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021000 - Petroleum- Legislation & Regulations