Word: gal
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...rich Texas, presumably set in its freewheeling ways, local Pollster John Staples found after Carter's presentation that more people approved his energy approach than opposed it. Nearly half said they would buy a smaller car if the price of gasoline were to rise from its present 550 per gal...
...targets providing for a gradual rise in usage until 1980, then a decline after 1982. If U.S. motorists in any year from 1978 on burn as much as 1% more gasoline than the target, then the next year they will have to pay a federal tax of 5? per gal.; the tax could rise to a maximum of 50? by 1989. Any money raised by the tax-and it could eventually be as much as $60 billion a year -would be returned, said the White House, not just to drivers but in equal amounts "to every man, woman and child...
...charge world prices only on newly discovered oil, which in the future could substantially boost their earnings. The cost of oil from existing wells would be driven up by a new federal tax at the wellhead. Thus buyers would pay more for gasoline (even if the 5?-per-gal. gasoline tax never went into effect), for heating oil and for all other products made from crude. But, as Carter noted, "the oil companies would be prohibited from deriving any revenue" from most of the increases...
Some other, possibly euphoric, examples of the effect on consumers of Carter's energy proposals: the President himself calculated that if his stand-by gasoline tax rises to 25? a gal., a family of four driving 10,000 miles a year in a car that gets 27 m.p g. would pay $91 more a year for gas, but would get back $500 in income tax credits. A homeowner who puts in $2,200 worth of insulation theoretically can pick up a $410 tax credit free. If Carter's program passes, the homeowner can arrange financing through his utility...
...that would be the envy of Hinsdale homeowners. The Carlses have also helped to reduce costs by taking the kind of initiative that the Carter Administration would applaud: forming a cooperative with ten other families to buy oil, with the result that they get a rate of 400 per gal., v. the standard price of 600. (Hinsdale's rate: 440 per gal...