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PMAA PRAISES CLINTON ADMINISTRATION FOR ACTION ON HEATING OIL TAX

 WASHINGTON, April 2 /PRNewswire/ -- The Petroleum Marketers Association of America today praised the Clinton administration for its decision to not tax home heating oil at a rate higher than other heating fuels, such as electricity and natural gas.
 The announcement came from the Treasury Department, which provided additional details on the president's proposed Btu tax package, and indicated that heating oil used for residential purposes would not be taxed at a rate higher than other fuels, as originally proposed.
 "This is a very positive development for heating oil marketers and their customers. I think President Clinton saw the inherent inequities in taxing persons who heat their homes with oil at a higher rate than those who heat with other fuels, and we commend him for this action," said PMAA Executive Vice President Phillip R. Chisholm.
 He also praised the president for the decision to impose the tax on oil as it leaves the refinery as finished product, as opposed to taxing it as crude oil entering the refinery. Taxing crude oil could have resulted in an increase in imported gasoline and heating oil and might have created competitive imbalances, said Chisholm.
 Chisholm did express concern that many other petroleum products, including gasoline and diesel fuel, would still be taxed at a rate of more than twice that of other fuels. He cautioned, too, that many questions about the tax remain, and that PMAA looks forward to working with the Clinton administration and with Congress to resolve these issues.
 "While we still have serious misgivings about the Btu tax, we are pleased that the president has removed the punitive tax burden on home heating oil consumers," said Chisholm.
 -0- 4/2/93
 /CONTACT: David L. Morehead of the Petroleum Marketers Association of America, 703-351-8000/


CO: Petroleum Marketers Association of America ST: District of Columbia IN: OIL SU: EXE

TW -- DC016 -- 2480 04/02/93 11:39 EST
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Publication:PR Newswire
Date:Apr 2, 1993
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