SENATOR SAYS ENERGY REPORT ASSUMPTIONS FLAWED

  Sen. Pete Domenici, a main sponsor
  of legislation to set an oil import fee, said the
  administration's energy security report was based on flawed
  economic assumptions.
      The New Mexico Republican said the report did not take into
  account the last few weeks' drop in domestic oil production in
  its statement that an oil fee would raise prices for consumers.
  The report said a decline in economic growth as a result of the
  fee would reduce tax revenues. "A five dlr (per barrel) oil
  import fee will provide the stimulus to create jobs and
  investment, " and raise revenues, he said.
  

