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Downstream impact and reauthorization of the oil spill liability tax

from PMAA

PMAA has continued to receive numerous inquiries on how the expiration of the Oil Spill Liability Tax on Dec. 31, 2017 will impact petroleum marketers.
Origin: The OSLT was created in the aftermath of the Exxon Valdez spill in Prince William Sound Alaska. The 9 cents per barrel OSLT tax is imposed on crude oil at the refinery gate. Proceeds from the OLST go into a trust fund used by the Coast Guard to pay for clean-up after accidents like the Deepwater Horizon oil spill. more

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