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Show Reclaiming Usod Oil Senator Strom Thurmond (R-SC) long ago introduced legislation to remove the excise ex-cise tax on waste oil. The tax was levied ten years ago when there was no energy shortage at a time when the oil industry in-dustry feared reclaiming waste oil might threaten the sale of virgin oil (and profits). Imposition of the tax dried up a then-blossoming reclamation industry. IF THE tax is removed, a way will quickly be found to collect and utilize waste oil, which is reuseable after processing. In fact. Federal Energy Office Administratior Frank Zarb has recently announced an-nounced a federal effort to reclaim used oil. The first step in that effort is for Congress to repal the heavy tax on used oil, which makes it too expensive. IF MOST of today's waste oil can be recycled, that will produce a new supply in the amount of 35,000 barrels a day-about three per cent of the total energy conservation goal of the President. |