Decontrol: Mobil's compromise proposal

Journal Article · Fri Jun 01 04:00:00 EDT 1979 · Mobil World; (United States)

OSTI ID:6108267

Mobil's president, William P. Tavoulareas, has proposed a compromise approach to promoting new oil discovery in the U.S. that concentrates on proper pricing of unfound reserves rather than a combination of decontrol and windfall taxes. He suggests keeping controls on existing oil and gas reserves, with increases for inflation, provided that newly discovered oil is priced at the same level foreign producers receive for imported oil. This would eliminate windfall profits and the need for a special tax and would keep the oil industry healthy. He feels that, in the event that excessive reserves and profits should develop, there will be time to propose legislation to deal with it. Positive response to the proposal came from Congress, the media, and the private sector.

• OSTI ID: 6108267
• Journal Information: Mobil World; (United States), Journal Name: Mobil World; (United States) Vol. 45:6; ISSN MOWOD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
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& Business Aspects
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
DEREGULATION
EXPLORATION
INDUSTRY
LEGISLATION
PETROLEUM INDUSTRY
PROFITS
TAXES