Remember the Gas Lines!

April 1982
National Review;4/2/1982, Vol. 34 Issue 6, p340
The article focuses on the price of petroleum products in the U.S. market. It is reported that the prices of oil on the spot market are as much as $6 below of the Organization of the Petroleum Exporting Countries' $34 base price is expected to continue downward, to as little as $5 a barrel. According to a study conducted by energy analyst David Snow a tariff of $5 a barrel on imported oil would have numerous benefits. First, it would restimulate the economy and guarantee more vigorous economic growth by shifting demand toward cheaper and underutilized domestic fuels and secondly a $5 tariff would raise $24 billion for the federal budget, lopping a considerable portion out of the federal deficit.


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