Foreign-oil tax credits subsidize OPEC cartel

Journal Article · Mon Sep 03 04:00:00 EDT 1979 · Energy User News; (United States)

OSTI ID:5913860

Schulman, F

Witnesses at Congressional hearings last June questioned whether the gasoline shortage was real and why it developed, since crude oil supplies were plentiful and gasoline consumption was down. In spite of statistics, however, supplies were down because the oil companies, recognizing that the Organization of Petroleum Exporting Countries (OPEC) controls multinational oil companies, wanted to create enough pressure to raise prices. The oil companies also opposed increasing alternative energy supplies. The author blames these actions on foreign-oil tax credits, which he claims subsidize the OPEC cartel. He proposes a counter-tax strategy that would return some of the oil revenues to the US.

• Research Organization: Energy Systems Tech. Corp., Washington, DC
• OSTI ID: 5913860
• Journal Information: Energy User News; (United States), Journal Name: Energy User News; (United States) Vol. 4:36; ISSN EUSND
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
ECONOMICS
ENERGY SOURCES
ENERGY SUPPLIES
FINANCIAL INCENTIVES
FOSSIL FUELS
FUELS
INDUSTRY
INTERNATIONAL ORGANIZATIONS
NORTH AMERICA
OIL-EXPORTING COUNTRIES
OPEC
PETROLEUM
PETROLEUM INDUSTRY
SUPPLY AND DEMAND
TAXES
USA