Word: gals
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Dates: during 1970-1979
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...needed could sell them, with Government approval, to others who needed and were willing to pay for extra coupons. On the other hand, if Congress buys the argument of the White House and many outside experts that rationing would be inequitable, it ought to consider enacting a 200-per-gal. tax on gasoline augmented by import restrictions?an idea that some of Ford's advisers would have liked more than the program that they finally produced. A gasoline tax would concentrate price increases in the area where the most energy is wasted, rather than spreading inflation throughout the economy...
Mishmash Threat. The Democrats' alternative, though, is not at all clear. Their formal program mentions both rationing and a gasoline tax as options to be considered, but the Democrats seem to be thinking only of a 100-per-gal. tax, and that would be too small to force
...dependent on uncontrolled oil from foreign sources or "new" domestic oil-production in excess of a 1972 base period that is allowed to sell at the world price. Through this system, the tariff would translate mainly into a nationwide rise in gas prices of 3? or 4? per gal. at the pump...
...Administration economists maintain that the energy companies are so flush with surplus oil nowadays that they would be forced to absorb some of the cost of the tax. Yet 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...
...windfall profits" tax; it would be channeled back to fuel users in the form of payroll tax cuts or direct subsidies. But retail prices of all products would be allowed to rise as high as they could go. The planners say that oil decontrol would add another 5? per gal. increase on retail fuel prices on top of the one caused by the excise tax. The result would be another 500,000-bbl. fall in daily consumption, bringing the theoretical total reduction to 1.3 million bbl. per day-well above the Administration's declared goal of a 1 million...