US Congress Allows Oil Spill Tax to Expire

From: Argus Media

“A US government trust fund used to clean up oil spills is losing out on millions of dollars in revenue after lawmakers allowed a 9¢/bl excise tax on refiners, importers and producers to expire at the end of last year. The tax is the main source of revenue for the Oil Spill Liability Trust Fund, which was created in the wake of the 1989 Exxon Valdez disaster as a way to ensure the timely clean-up of oil spills. The tax applies to crude received at US refineries, imports of petroleum products and domestically produced crude that is exported.”

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