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Article: Avoid the Btu minefield; VAT is fairer, less disruptive. (British thermal units; value added tax; Bill Clinton's energy tax plan) (Column)
- Article from:
- The Oil Daily
- Article date:
- March 2, 1993
- Author:
CopyrightCOPYRIGHT 1993 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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We all share President Clinton's concern over the massive budget deficit, which, as he says, has "roared out of control." Closing the gap between federal spending and revenues -- projected for fiscal 1993 at $310 billion -- is a national problem calling for a national solution based on reduced government spending and equity in raising additional revenue.
As an industry, America's oil companies stand ready to be part of that solution.
But a job-destroying energy tax -- one that discriminates against oil users with a rate more than twice that of other fuels -- hardly meets the test of either fairness or economic responsibility.
In fact, the ...