POWER POLITICS NOW SHAPING ENERGY TAX

The oil industry outside the U.S. has a huge economic stake in the BTU tax issue and the rest of President Bill Clinton's economic initiative. The world's single biggest oil market threatens to penalize petroleum use and sacrifice growth on the altar of higher taxes and bigger government. The non-U.S. oil world thus shares with U.S. petroleum consumers a concern in the power politics now at work in Washington, D.C.

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