House bill to quadruple per barrel tax on oil industry

摘要

Tucked away in a big jobs bill passed last month by the House of Representatives was a provision to more than quadruple the per barrel tax on the petroleum industry to fund the Oil Spill Liability Trust Fund.rnIn August 1990, OPA 90 authorized the use of the Oil Spill Liability Trust Fund (OSLTF), which is an insurance fund that helps to cover the uncompensated removal costs by the U.S. Coast Guard and the EPA, as well as damage to individuals and businesses. Currently the OSLTF is funded by an eight cents tax on barrel of crude oil assessed on the petroleum industry.