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Show t ; f f f A TAX HIKE FOR ONE RUINS UTAH FOR ALL A severance tax levied solely against and gas industry sends a chilling message to Utahs mining and steel industries: Coal and the Utah metals are next. Can Sohio and U.S. Steel long keep Kennecott and Geneva open after that? And what about other businesses? OUR OIL INDUSTRY IS HURTING. HIGHER TAXES WILL KILL FT. Oil production in Utah is way down (see 5). Seventy fewer wells were drilled last year than the year before. Half the drilling rigs are stacked, idle, rusting in the snow. All this and the Governor wants to raise the severance tax? Oil prices arent set in Salt Lake City. Houston, maybe. Riyahd, probably. So if Utah oil costs more to produce, but sells at the world price, who makes up the difference? The consumer, yes. But the bulk of it comes out of the oil producers hide. He cant sell it for more just because it costs him more. And if he cant sell it, he wont pump it. Dont pity the oil producer. Pity yourself. Oil men will just invest in other states. Theyll survive. But Utahs oil industry may not. And if not, what about you? Can you shoulder the tax burden? If the Governor gets his severance tax raise, youll be the one to bear it. He and others may believe the propoganda about oil companies obscene profits. Yet, a ten-ye- ar The message is dear thinking of earning forget it. .. v. a If youre profit in Utah, The tax man cometh. industry profitablity survey conducted in 1978 ranked business not first...but 25th...behind such industries as broadcasting, pharmaceuticals, publishing, cosmetics and the like. Oils net income as a percentage of net worth: 10.1. Thats less than the interest some banks offer on savings. t the crude oil oil ; v:-r- a ::$! L F UTAH CANT AFFORD A S2VERAKD2 TAR KE... CAN YOU? could prove disastrous. Not just for Utahs oil industry, but for you... If you drive a car...youll pay more at the gasoline pump. If you work in oil or related industries... you may lose your job...if you havent already. If you own property...the state may have to raise property taxes to offset slumping oil tax revenues because of dedining production. It you have kids in school...education budgets could be cut because a hurting If oil industry cant give any more. If you heat your home with natural gas ...utilities will pass through raises on your monthly bill. ; you own oil and gas royatties...your . payments will drop by the amount of the tax If VMM increase. M N If you think public employees should bite the bullet on a pay raise when youre taking a pay cut...youd better take a stand and n jo H- n ll o 3 ; f 1 I i Cw Q. JS - 555 U n ES ?o tell your legislator what you believe. CALL OR WRITE YOUR LEGISLATOR MISIATELY! P Paid for by AMERIPAC, Americana for Energy Independence, Weet 800 South, Salt Lake City. Utah 84101. Phone 384-900- a Utah Dean political action committee, 231 W. Rowed, Chairman. . |