Domestic Petroleum Security Act of 1989

Summary

Domestic Petroleum Security Act of 1989 - Amends the Internal Revenue Code to impose an excise tax on the first sale within the United States of any crude oil or refined petroleum product imported into the United States. (The tax is imposed on first use if no prior tax has been imposed.) Exempts crude oil and refined petroleum products purchased for export. Sets the rate of the tax: (1) for crude oil as the difference between $18 per barrel and the average world price of crude oil per barrel; and (2) for refined petroleum products at $3 plus the crude oil tax.

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2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 25 January 1989

  Open at official source

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