IEA Chief Warns of Changing Level of Oil Taxes
Posted on: Friday, 16 September 2005, 09:00 CDT
IEA chief warns of changing level of oil taxes
PARIS, Sept. 15 (Xinhua) -- The International Energy Agency ( IEA) recommended Thursday oil consumer countries to refrain from changing the level of oil taxes to lighten the burden of high oil prices for consumers.
"It is key to avoid sheltering consumers from market signals," said IEA's executive Claude Mandil at a press conference in response to a question about French government pressure on oil companies to lower gasoline prices at the pump.
"We strongly recommend to our member countries, and to other countries, to refrain from changing the level of the tax in order to change the price of oil for the end-user," he said.
He however said that the Paris-based IEA had said anything about if a government should return some money back to those hit hardest by high oil prices.
French Finance Ministry has planned to convoke a meeting on Friday when Finance Minister Thierry Breton would urge oil companies for their "voluntary commitment to moderating the prices ".
Source: Xinhua News Agency - CEIS
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