VOL. XXXI

NO. 25

28-MARCH-1988

OPEC AND OIL PRICES

US Proposes Uniform Crude Levy to Fund Clean Up Program

Reacting to pressure from its trading partners in the General Agreement onTrade and Tarriffs (GATT), the US administration is proposing in its 1989budget to replace an oil tax which discriminates between domestic and importedoil with a uniform rate. The old tax - 8.2 cents a barrel on domestic productionand 11.7 cents/B on imported crude - was introduced in 1986 to fund a program toclean up...