Domestic and international petroleum situation and the implications of fees on imported oil: hearings before the Committee on Energy and Natural Resources, United States Senate, Ninety-ninth Congress, second session ... March 14, 20, and 25, 1986U.S. Government Printing Office, 1986 |
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Page 6
... capital spending , most of which goes for exploration and production . Standard Oil has also announced plans to cut its exploration budget for 25-30 percent . 4 . Tumbling oil prices are also causing increasing the number of non ...
... capital spending , most of which goes for exploration and production . Standard Oil has also announced plans to cut its exploration budget for 25-30 percent . 4 . Tumbling oil prices are also causing increasing the number of non ...
Page 11
... capital expenditures . Exxon yesterday an- nounced a cut in its capital budget of almost $ 3 billion . The esti- mates that we have would indicate that between 1981 and 1986 at $ 15 a barrel , the capital expenditures of the oil ...
... capital expenditures . Exxon yesterday an- nounced a cut in its capital budget of almost $ 3 billion . The esti- mates that we have would indicate that between 1981 and 1986 at $ 15 a barrel , the capital expenditures of the oil ...
Page 22
... capital investments or do the most expensive research at the time that it is least easy to justify in terms of the bottom line . Such would seem to be a time for us in terms of research and development , synthetic fuels , alternative ...
... capital investments or do the most expensive research at the time that it is least easy to justify in terms of the bottom line . Such would seem to be a time for us in terms of research and development , synthetic fuels , alternative ...
Page 26
... capital investment in Mexico would be preferable . And the reason for that is that we have political stakes in th Mideast . Egypt's foreign exchange earnings are going to drop b $ 22 billion this year , a country under great pressure ...
... capital investment in Mexico would be preferable . And the reason for that is that we have political stakes in th Mideast . Egypt's foreign exchange earnings are going to drop b $ 22 billion this year , a country under great pressure ...
Page 27
... capital in 1986 for what has a marginal effect on drilling activity . Senator MURKOWSKI . So you are saying that it is not really worth the effort to pursue deregulation at this time as far as its being a significant factor . Dr ...
... capital in 1986 for what has a marginal effect on drilling activity . Senator MURKOWSKI . So you are saying that it is not really worth the effort to pursue deregulation at this time as far as its being a significant factor . Dr ...
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acquisition cost American American Petroleum Institute Association average banks barrels a day barrels per day budget BURTIS Chairman committee companies competitive consumers consumption Copeland countries crude oil crude oil prices deficit domestic oil domestic refiners drilling drop economic effect Energy Information Administration energy policy energy security exemptions exploration exports Federal foreign free market fuel gasoline going HARTLEY heating oil higher impact increase independent marketers loan lower oil prices Mexico million barrels national security natural gas non-OPEC offset oil and gas oil import fee oil import tax oil industry oil market oil production OPEC percent petroleum products price changes price decline price of oil problems product imports reduce refined products refineries reserves retail revenues rigs Saudi Arabia Senator MURKOWSKI Senator NICKLES spot prices Strategic Petroleum Reserve stripper supply Thank U.S. Department U.S. oil U.S. refiners United wellhead Wickersham windfall profits tax world oil
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Page 189 - Council is a federation of 42 state and regional trade associations representing thousands of independent small business petroleum marketers. Members include gasoline and diesel fuel wholesalers, commissioned distributors of gasoline, gasoline reseller-retailers and a large number of retail fuel oil dealers. Members also wholesale or retail many other petroleum products, including kerosene, LP gas, aviation fuels and motor oils as well as residual fuel oil.
Page 818 - GNP to be 1.2 percentage points higher in 1986 and 1.0 percentage point higher in 1987 than would otherwise have been the case. Using the December 1985* Blue Chip consensus forecast of 2.5 percent growth in 1986 and 3.1 percent growth in 1987 as a starting point, this means that on the basis of the oil price decline that has already occurred, we can expect real GNP growth to be 3.7 percent this year and 4.1 percent in 1987. 'The rationale for using the December 1985...
Page 150 - ... done the grape crop by sparrows had reached the department from twenty-five States and the District of Columbia, as follows : Alabama, Arkansas, California, Connecticut, District of Columbia, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, New Jersey, New York, North Carolina, Ohio. Pennsylvania, South Carolina, Tennessee, Vermont, Virginia"and West Virginia.
Page 821 - Lower Investment Means Fewer Jobs Created. Lower investment means that fewer private-sector jobs are created. As a result, the oil import tax would cause civilian employment to fall by 0.1 percent and 0.3 percent in 1986 and 1987, respectively, compared to what would have been the case without the added tax. This implies a cumulative loss of 400,000 Jobs in 1986 and 1987. The civilian unemployment rate would be 0.1 percentage point higher in 1986 and 0.2 percentage point higher in 1987. (See Figure...
Page 446 - SIGMA's members market refined petroleum products in all SO states and account for approximately 20 percent of the US retail market for motor gasoline.
Page 849 - I support the imposition of variable import fees as proposed by Senators Wallop and Boren as one means to achieve that goal. However, I would recommend that the fee be imposed only for an interim period of no more than three years and reevaluated at the end of that time to determine whether it is still merited by national security concerns.
Page 380 - s membership is composed of resin manufacturers, distributors, machinery manufacturers, plastics processors, mold-makers and industry-related categories. Founded in 1937, SPI serves as the "voice" of the plastics industry. 2. seriously impair economic growth; 3. devastate the international competitiveness of the chemical, fibers and plastics industries and export American jobs; and 4. mark a return to massive government intervention into US energy markets. DEFICIT REDUCTION Recent studies by Data...
Page 818 - Department - 2 (1 ) Economic Benefits of an Oil Price Decline Econometric studies generally agree that a decline in the price of oil would have a positive effect on our nation's economy by lowering Inflation and interest rates and, thus, spur ing economic growth and reducing unemployment.
Page 766 - ... of the Free World's oil reserves are located in the Middle East and that excessive dependency on that area of the world has led directly to economic shocks and serious foreign policy problems. Senator Lloyd Bentsen (D-TX) has noted that "if we learned anything from the Arab oil embargo of 1973, it's that we cannot afford to get hooked again." Similarly, many alternate energy projects will be terminated, although it is obvious that such projects are needed to replace declining domestic production...
Page 409 - E. oil imports. If no protectionist action is taken by the Congress, and the recent reduction in world crude oil prices is not immediately reversed, there will be further substantial reductions in the bill for petroleum imports in 1986, probably on the order of $15-20 billion.