RigData Insights

Trump Tax a Wild Card for Oil

  • Tuesday, December 20, 2016
  • Posted By Meagan Wildfong

Trump
Source: Bloomberg.com | Liam Denning | December 19, 2016

 

It's only fair to warn you that this column concerns tax policy, so maybe grab a coffee first. It's also about oil (if that helps.)

One of the incoming Trump administration's priorities is tax reform. And one proposal outlined in Speaker Paul Ryan's "Tax Reform Task Force Blueprint" with big implications for oil involves a so-called border adjustment tax. This would effectively tax U.S. businesses on their imports while offering a break on domestically produced goods for export. In other words, it is designed to encourage making stuff in the U.S. rather than buying it from overseas.

This matters for global oil markets because, even though the U.S. is less dependent on foreign barrels than it was a decade ago, it is still a big part of global oil trading.

 

To read full Bloomberg article, please click LINK.

Trump Exports Imports Global Oil Oil

Archives


Topics




Login

Forgot your password?

Retrieve Your Password

Enter your email address and we will send you an email with instructions to reset your password.