Oil price decontrol debate: US crude oil pricing - a proposal

Journal Article · Sun Jul 01 04:00:00 EDT 1979 · Challenge; (United States)

OSTI ID:6108276

Tavoulareas, W P

The President of Mobil Corporation views President Carter's proposal for a new tax on any world oil price increase which exceeds the US inflation rate as a permanent new tax to set limits on the price of undiscovered oil. Public attention has focused on the short-term windfall profits, obscuring the long-range effects and ignoring the historical failure with natural gas supplies. Cost escalation for locating and producing new oil resources can be expected to continue rising, but they can go much higher and still be competitive with alternate energy sources. He suggests that if prices on oil under production are raised only to cover inflation and a full market price is allowed on undiscovered oil, the US will be less-dependent on imports and domestic payments will remain in the US to be taxed.

• OSTI ID: 6108276
• Journal Information: Challenge; (United States), Journal Name: Challenge; (United States) Vol. 22:3; ISSN CHLGB
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002* -- Energy Planning & Policy-- Petroleum
DEREGULATION
ENERGY POLICY
ENERGY SOURCE DEVELOPMENT
FINANCIAL INCENTIVES
GOVERNMENT POLICIES
INDUSTRY
INFLATION
NORTH AMERICA
PETROLEUM INDUSTRY
PRICES
TAXES
USA