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Gas decontrol debate pits Hollings and Dingell
Senator Ernest Hollings backs a five year windfall profits tax on natural gas in exchange for immediate decontrol, while opposing decontrol he warns the tax would raise 40 billion dollars. Representative John Dingell predicts decontrol in 1981 or 1982 is wrong and vows to resist. Dallas Morning News notes high oil stock ownership among 85 million Americans and growing federal offshore royalties in Texas reach 281.2 million in 1980 with big increases in prior years. A national rig count stands at 4 224 as of September 14. A Poland joke about tea contrasts politics and apathy with cocoa.
MENTIONED IN THIS ARTICLE
Ernest Hollings
South Carolina
Hollings
U. S
Treasury
Congress
John Dingell
House Energy and Commerce Committee
Texas