Clinton Administration energy tax proposal blasted by industry

Journal Article · Wed Feb 24 04:00:00 EST 1993 · Chemical Week; (United States)

OSTI ID:6653900

Begley, R

The energy tax in President Clinton's economic recovery program is drawing heavy fire from industry, which is predicting dire consequences for US competitiveness and the general economy. The tax, based on Btus of energy sources, sets a rate on oil twice that set on natural gas and coal. The bite will be blunted by an exemption for energy sources used as feedstocks. The Administration says the tax is not primarily a revenue raiser, but is designed to encourage energy conservation, reduce carbon dioxide emissions, and decrease dependence on foreign oil. National Petroleum Refiners Association (Washington) president Urvan R. Sternfels says it will also be a great disadvantage to heavy petroleum users like the petrochemical industry, which will be forced to raise prices. It clearly will make US industry less competitive. We're distressed.

• OSTI ID: 6653900
• Journal Information: Chemical Week; (United States), Journal Name: Chemical Week; (United States) Vol. 152:7; ISSN CHWKA9; ISSN 0009-272X
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
293000* -- Energy Planning & Policy-- Policy
Legislation
& Regulation
AIR POLLUTION ABATEMENT
CARBON COMPOUNDS
CARBON DIOXIDE
CARBON OXIDES
CARBONACEOUS MATERIALS
CHALCOGENIDES
CHEMICAL INDUSTRY
COAL
COST
ECONOMICS
ENERGY
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GREENHOUSE GASES
INDUSTRY
MATERIALS
NATURAL GAS
OXIDES
OXYGEN COMPOUNDS
POLLUTION ABATEMENT
TAXES