February 7, 1986

President Reagan's assertion this week that he might accept a tax on imported oil in certain circumstances has somewhat changed the script for tax legislation in the Senate. The President's statement means that such a tax will be considered seriously, at least by the Senate Finance Committee and possibly by Congress as a whole. But widespread disagreement among lawmakers persists - over whether the receipts should be used to lower budget deficits or reduce income taxes, over the disparate effects on oil-producing states and those in the East and over the potential impact on the nation's economy in general and its trade balance in particular. Moreover, the Administration is clearly divided, with top Presidential advisers on both sides of the question.

The Economy President Reagan said he would seek further deregulation of banks and the dismantling of the farm support bureaucracy. In his annual Economic Report to Congress, he also said the Administration would renew its efforts to deregulate prices of natural gas and to further deregulate the trucking industry. Also, a special White House committee is to explore more ''privatization'' of Government services than that listed in his budget. [ Page A1. ] A Congressional study found that 11.5 million workers lost jobs because of plant shutdowns or relocations between 1974 and 1984 and that only 60 percent regained jobs during that period. The study suggests that the problem of displaced workers is much more serious and costly than the Government previously estimated. [ A1. ]

President Reagan said today that he would seek further deregulation of the nation's banks and the dismantling of the Government's elaborate farm support bureaucracy. In his annual Economic Report to Congress, Mr. Reagan also said the Administration would renew its efforts to deregulate prices of natural gas, which Congress has rejected, and seek further deregulation of the trucking industry. More 'Privatization' He said he has established a special White House committee to explore more ''privatization'' of Government services than those listed in his new budget. The budget proposed the sale of several electric power authorities and the Elk Hills, Calif., and Teapot Dome, Wyo., petroleum reserves.

A Congressional study has found that 11.5 million workers lost jobs because of plant shutdowns or relocations from 1979 to 1984 and that only 60 percent of them got new jobs in that period. The study, conducted by the Congressional Office of Technology Assessment and made public today, suggests that the problem of displaced workers is much more serious and will be much more costly to resolve than the Government had estimated. In a key finding, the study said a large proportion of the displaced workers were middle-aged people in manufacturing ''with long and stable job histories,'' rather than young people who had changed jobs often. The study faulted Government efforts to assist displaced workers, especially the Labor Department's Job Training Partnership Act, a program created in 1982 to assist disadvantaged and displaced workers. Of the millions of workers who need help, the report said, ''it is likely that no more than 5 percent'' are being served.

Workers at the General Dynamics Corporation here have accused some managers at the company of falsifying time cards, and say the practice has led to overbilling on Government contracts. Although the giant military contractor is currently under indictment for fraud, the charges against it have not included instances of incorrect billing for employee time. But at least one other major military contractor, the General Electric Company, has faced such charges, and was temporarily barred from Pentagon work in early 1985. G.E. pleaded guilty to 108 counts of falsifying time cards, and was fined $1.04 million, the maximum allowable. G.E. was also ordered to pay back the $800,000 that was falsely billed. In scores of interviews outside factory gates, inside their homes and over the telephone since last Friday, many General Dynamics workers said that supervisors at the General Dynamics plants here sometimes incorrectly billed employee hours to the Federal Government. The workers also said that, until recently, managers in some departments filled out time cards after the workers signed them. The employees in those departments signed the cards at the beginning of each week and never saw them again, they said.