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(g) MINING ENTERPRISES

124. As a general rule, mining enterprises in N.E.I. present few difficulties, as their operations do not extend abroad.

Local oil industries give rise to serious problems, however, because they are merely a part of world concerns, and the determination of the sale price is very difficult. Until now, the basis of calculation of the production profits of the concerns producing here and selling abroad has been the so-called “gulf price” of oil. The oil sold in N.E.I. is entirely produced here.

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