OGJ NEWSLETTER

Taxes aimed at energy--mainly oil--are confronting the petroleum industry across the globe. Even as the U.S. Senate moves towards a transportation fuels tax to reduce the U.S. budget deficit (see story, P. 19) and the U.K. government backpedals somewhat on its PRT tax reforms (see story, p. 22), new taxes with an environmental slant emerge on the horizon. Industry fears a tax--direct or hidden--might be part of government pledges to further cut emissions of gases thought to contribute to global