SENATOR SAYS ENERGY REPORT ASSUMPTIONS FLAWED
Sen. Pete Domenici, a main sponsor
of legislation to set an oil import fee, said the
administration's energy security report was based on flawed
economic assumptions.
    The New Mexico Republican said the report did not take into
account the last few weeks' drop in domestic oil production in
its statement that an oil fee would raise prices for consumers.
The report said a decline in economic growth as a result of the
fee would reduce tax revenues. "A five dlr (per barrel) oil
import fee will provide the stimulus to create jobs and
investment, " and raise revenues, he said.
 Reuter
