Word: exportability
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Dates: during 1970-1979
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Billions in tax revenues are at stake. After oil prices started leaping on the world market, Canada began increasing its own take on exports. In October it slapped on its first oil export tax-40? per bbl.-and by last week this levy had been stepped up to $6.40 per bbl.; the result is a current export price of $10.50 per bbl. While the Canadians are fighting over whether the provinces or the federal government should get the bulk of these taxes, the U.S. is arguing that the levies should be lowered...
...rising import costs are making western oil economical in the East, and by the end of 1975, a pipeline extension will supply the East directly. When it opens up, western leaders would like to continue selling to the U.S., if only because it would provide a guaranteed source of export-tax revenue. Easterners want most of the fuel for their own industries and homes, and of course they would not have to pay export taxes...
...televised conference of Trudeau and provincial premiers in Ottawa. Both sides voiced strong arguments. For its part, eastern Canada is suffering from shortages and high prices. A gallon of regular gasoline costs 69? in Montreal, compared with only 47? in much of the West. A temporary compromise on oil export taxes was hammered out at the Ottawa meeting. Half of the tax revenues will go to the oil-exporting provinces and half to the federal government, which will use its share to subsidize lower gas prices in the East. But that agreement will run only until April, by which time...
...reason is that 3 trillion tons of coal are scattered from Pennsylvania to Washington State, from Alabama to Alaska. If a quarter of the known reserves can be tapped, they will satisfy the nation's domestic energy needs for 200 to 300 years, with ample to spare for export. Says Carl Bagge, president of the National Coal Association: "We are the Persian Gulf of the world's coal supplies...
...million from its copper, lead, silver and zinc mines for the first nine months of 1973. Provided that there is a sweetening of those terms, and terms for the other companies, Greene is said to have told the Peruvians that their applications for loans at the U.S. Export-Import Bank would be welcomed. Additionally, there are reports in Lima of U.S. banks' offering Peru a large ten-year credit line at 11% interest; Greene denies any connection with such an offer The betting in Peru is that President Juan Velasco Alvarado will accept some agreement in a month...