oil taxes
Crude extraction fees
Oil taxes are levies imposed on petroleum products or on companies that extract and sell oil.
These include taxes at the pump on gasoline and diesel, as well as severance taxes on oil production and windfall profit taxes when prices spike.
Governments use oil taxes both to generate revenue and to influence energy consumption: The state relies heavily on oil taxes to fund public services.
Proposals to raise or lower oil taxes often spark heated political debate over energy policy, environmental concerns, and economic impact.
- petroleumNatural underground hydrocarbon liquid
- black goldSlang for petroleum
- revenueBusiness income total
- leviesMandatory governmental charges
- tariffsTaxes on imports
crude · barrel · gasoline · pump price · drilling · refineries · carbon · fossil · extraction · subsidies · OPEC · pipeline · energy · excise · royalties · severance · fuel · gas guzzler