Vernal Express | 1977-10-13 | Page 37 | America's Economy

ECONOMY Would the Administrations Administration's Administrations Administration's Administrations Administration's tion's prop proposed Crude Oil Equalization Tax COET COST which would be added to the price of controlled domestic crude oil encourage in increased domestic production No the tax itself would not encourage any increased exploration or production But because COET is a move in the direction of realistic crude oil pricing it could be a first step towards eventual de de- de- de control As currently proposed proposed pro pro- posed the tax revenues would go into government coffers for consumer rebates and funding other federal programs ms If a portion of the revenues generated by COET was returned to producers as asa asa asa a credit it would encourage investments to find and produce additional energy supplies 0