oil tax
Crude extraction fee
A tax levied on petroleum products or on companies that extract, refine, or sell oil.
Oil taxes take various forms: excise taxes at the pump, severance taxes on extraction, or windfall profits taxes when prices spike.
The state's oil tax funds its permanent fund dividend.
Governments use oil taxes both for revenue and to influence energy consumption.
- petroleumNatural underground hydrocarbon liquid
- levyCompulsory government charge
- revenueBusiness income total
- crudeUnpolished, raw state
- black goldSlang for petroleum
barrel · refinery · gasoline · gas pump · pump price · carbon · tariff · OPEC · drilling · excise · pipeline · subsidy · extraction · fuel · diesel · energy · royalty · offshore