Word: cu
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Dates: during 1970-1979
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...impose a $1-per-bbl. tariff on imported petroleum beginning Feb. 1, then raising it to $2 on March 1 and $3 on April 1. He also will ask Congress to enact a $2-per-bbl. tax on U.S.-produced crude, and an equivalent amount?370 per 1,000 cu. ft.?on natural gas piped across state lines. If and when Congress agrees to that, the tariff on foreign crude would drop back to $2. Finally, Ford plans to remove all price controls on domestically produced oil on April 1?a move that he can take...
...much of it would be passed on to customers, probably in the form of a rise of 5? per gal. or so in the retail prices of gas, heating oil and other petroleum products. An equivalent tax on natural gas would be about 50? per 1,000 cu. ft. Through a rebate system that has still to be devised, most of the excise tax revenues (estimated at $10.5 billion a year) would be returned to the low-and middle-income fuel users who would be most hurt. Within a year, Administration economists say, the tax on oil alone would reduce...
...excise taxes with a plan to strip away all controls on crude-oil and natural-gas prices. Thus the cost of old oil would float up from $5.25 per bbl. to the world market price, now about $11. Interstate natural gas, now controlled at 28? per 1,000 cu. ft., would be allowed to rise to uncontrolled levels of intrastate gas, now about $1.25. The resulting surge in oil-and gas-company profits would be cut by a special "windfall profits" tax; it would be channeled back to fuel users in the form of payroll tax cuts or direct subsidies...
Communist Gains. Heavy fighting also broke out in Military Region III, which consists of the eleven provinces surrounding Saigon. The town of Cu Chi, the rear headquarters of the 25th ARVN Division, was shelled. Communist mortar and artillery attacks in Tay Ninh province, especially around Nui Ba Den (Black Virgin Mountain), drove thousands of terrified refugees into already crowded Tay Ninh City. In Phuoc Tuy province, the Communists are attempting to gain control of several rubber plantations near the town of Long Thanh. Not far from there, they have organized the 301st Regiment of the so-called People...
...interstate commerce. But such action would quadruple or quintuple costs to consumers and create huge "windfall" profits for the gas producers. Thus Congress "NO IMMEDIATE MIRACLES" should retain controls but raise the price of interstate gas from its present, unrealistically low level of between 25? and 42? per thousand cu. ft. to a more attractive range, say, between...