From a public choice perspective, the single most important element that made decontrol feasible was the windfall profits tax
. It was not enough that outside economists had made such a convincing academic case for abolishing the controls.
windfall profits tax
. Both cases raise questions about what constitutes an excess profits tax, when foreign taxes are creditable, and even how Treasury regulations should be interpreted.
Sonatrach's right to a majority stake in E&P contracts was restored, and a windfall profits tax
was introduced for Dated Brent in excess of $30/b (see gmt5AlgGeoFeb2-09).
This work explains background, history, rationales, policy and economic contexts, and consequences of bills introduced in Congress to impose a windfall profits tax
on oil--that is, a tax on oil industry income that is due primarily to rising crude oil prices, not new production or investment.
Lawmaker Sanjaasurengiin Oyun told AFP on the sidelines of the conference that scrapping the windfall profits tax
would open doors for Ulan Bator.
electricity comes from renewable sources by 2012, and 25 percent by 2025, and promotes a windfall profits tax
on oil companies to provide a $1,000 emergency energy rebate to American families.
Obama's energy platform lists consumer rebates funded by a windfall profits tax
on oil companies.
Gerard also said that while he is optimistic about working with the new Congress, it is too soon to know whether API will be able to convince lawmakers to oppose a windfall profits tax
on the oil industry.
Obama proposes to enact a windfall profits tax
on energy profits that would provide a $1,000 rebate to American families.
And that's slap a windfall profits tax
on the oil, gas and electricity companies' obscene levels of profit, when millions are worried about how they are going to keep themselves warm.
The Democratic proposal would have imposed a windfall profits tax
of up to 25 percent on "unreasonable" earnings by the nation's five biggest oil companies.