Regulatory Reform in the Oil Industry Hearing Before the Subcommittee On Natio
Regulatory Reform in the Oil Industry Hearing Before the Subcommittee On Natio
Natural Resources United States Congress House Committee On Gover
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Any fuel marketers have in inventory when the tax re- duction goes into effect will have the tax already paid and there is no provision for a refund. Most prudent marketers will have little or no inventory on hand. Prices will probably rise because supply is low and demand at the height of the summer vacation season is high. Motor fuel marketers in Oklahoma have their investments in jeopardy right now. Congress many years ago gave native Amer- ican tribes sovereign status in Oklahoma. This stat...us is not con- fined to reservations. There are none in Oklahoma. The tribes are building mega travel centers across the street from our locations. We cannot compete when the tribes have a 17-cent-per-gallon cost advantage from not collecting and remitting the State's motor fuel 48 tax. Congress must act on this issue before our family business and the jobs we provide are gone. In summary, Government involvement only disrupts motor fuel markets. Lawmakers need to learn from their past mistakes. Please correct these mistakes and let market forces resolve the is- sues.
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