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Show TEAXCT FACTS & FANCIES y The Administration's proposed Crude Oil Equalization Equaliza-tion Tax (COET) would be added to the price of controlled con-trolled domestic crude oil, bringing U.S. prices more in line with the world price of crude. How much revenue would be generated by COET and where would these funds so? Although estimates vary, anywhere from $12 to $19 billion could be generated annually by the Crude Oil Equalization Tax. At least some portion of this tax revenue rev-enue would be returned to energy consumers through rebate programs. Other amounts would be returned "4 . - V tea:.., ;7rr " COCKATIELS CAN easily be taught to talk. to the public through the Social Security and welfare systems. There are no provisions provi-sions under the proposed National Energy Act that would require the government govern-ment to use COET revenues for energy-related purposes. The consumer's energy tax dollars would, therefore, be used to finance general government spending, while making no contribution to solving our national energy problems. |