Obama to seek new tax on oil in budget proposal (Is this his worst idea yet?)

yahoo news ^ | 2/4/16 | Ayesha Rascoe and Valerie Volcovici

[doldrumsforgop]

U.S. President Barack Obama will launch a long-shot bid next week to impose a $10-a-barrel tax on crude oil that would fund the overhaul of the nation's aging transportation infrastructure, the White House said on Thursday.

The proposed fee, which would be paid by oil companies and phased in over five years, was quickly met with scorn by lawmakers in the Republican-controlled Congress.

In the last year of his presidency, Obama has said the country must stop subsidizing the "dirty" fossil fuels of the past and focus on clean, renewable fuels that do not exacerbate climate change.

"By placing a fee on oil, the President's plan creates a clear incentive for private sector innovation to reduce our reliance on oil and at the same time invests in clean energy technologies that will power our future," the White House said in a statement.

Set to be officially announced in Obama's fiscal 2017 budget plan on Tuesday, the fee would provide nearly $20 billion a year to help expand transit systems across the country and more than $2 billion a year to support the research and development of self-driving vehicles and other low-carbon technologies.

Republican lawmakers, who have repeatedly clashed with the Obama administration over energy policy, panned the proposal on social media. House of Representatives Majority Whip Steve Scalise asked on Twitter whether the proposal was "Obama's worst idea yet?"

[doldrumsforgop]

His only justification is it is a 'dirty fuel'.

[kiryandil]

GOP Rips Obama's Oil Tax Plan: 'Dead on Arrival'
	02/04/2016 4:12:49 PM PST · by Olog-hai · 4 replies Newsmax ^ | Thursday, 04 Feb 2016 06:36 PM | Todd Beamon Congressional Republicans vowed Thursday to kill President Barack Obama's plan to add a $10-per-barrel tax on oil production to pay for "green" transportation projects, with House Speaker Paul Ryan calling it "dead on arrival" and "an election-year distraction." "The president expects hard-working consumers to pay for his out-of-touch climate agenda," the Wisconsin Republican said. "A $10 tax for every barrel of oil produced would raise energy prices -- hurting poor Americans the most." [...] President Obama will include the plan in his budget proposal that he will present to Congress on Tuesday. The fee will be phased in over five...
Obama proposing $10 a barrel tax on oil to pay for transportation programs
	02/04/2016 1:08:18 PM PST · by AngelesCrestHighway · 54 replies MarketWatch ^ | 02/04/16 | Robert Schroeder President Barack Obama will propose a $10 a barrel tax on oil to pay for transporation programs, reports said Thursday. The proposed tax would help pay for projects to encourage mass transit, high-speed rail and self-driving cars, Politico reported. The proposal is due to be included in Obama's final budget request next week. The Republican-controlled Congress is likely to harshly criticize Obama's plan, which comes in the midst of an election year.
Obama to propose $10 per barrel fee on oil
	02/04/2016 12:41:35 PM PST · by GreaterSwiss · 107 replies CNBC ^ | 2/4/2016 | Jacob Pramuk President Barack Obama will propose a $10 per barrel charge on oil to fund clean transportation projects as part of his final budget request next week, the White House said Thursday. The proposal would have difficulty clearing the Republican-controlled Congress. Oil companies would pay the fee, which would be gradually introduced over five years. The government would use the proceeds to fund high-speed railways, autonomous cars and other travel systems. "By placing a fee on oil, the President's plan creates a clear incentive for private sector innovation to reduce our reliance on oil and at the same time invests in...

[kiryandil]

Obamaroads:
If you like your under-$2 a gallon gasoline, you can keep your under-$2 a gallon gasoline.

I like to call it "The Shared Transportation Responsibility Fee".

Only those EVIL Big Oil Companies will have to pay it.

[centurion316]

The proposed fee, which would be paid by oil companies

Only politicians can get away with lies like this. We will pay the tax, together with all of the existing gas taxes that we pay at the pump. Those taxes that were meant to maintain the road, but that are used to buy votes on election day.

[PGalt]

There is no end to the machinations of Marxists.

Socialism Is Legal Plunder - Bastiat

DEPOPULATE socialists from the body politic. Bye bye, Bernie. ESAD, Hillaryous.

It’s easy to

live - free - republic

[Myrddin]

Punishing the successful (oil, gas, coal) and making them pay to subsidize failing competitors. On a par with making people dig their own graves before executing them.

[WENDLE]

Obama drives more and more to Trump every day. He has 350 days and then all the candidates but Cruz will undo his communism. Rubio says he will not undo the illegal unconstitutional amnesty. He said it and it is recorded and being translated and released.

[Sequoyah101]

Not an idea. An intention to further destroy the UNITED STATES. It is his desire.

[digger48]

Which is it? This article claims the TAX is for aging infrastructure.

Of the reports I’ve seen and heard today, he wants it for high-speed Solyndras and Volts.

[arl295]

We have stupid negotiators, Ryan will negotiate it to $20 a barrel and the tax money collected would be used for Gay Muslim Parades and free abortions

[Sequoyah101]

I got news for y’all, the oil companies are out of money. They are burning to the ground right now.

Believe whatever you want to but at this price NOTHING IS GOING TO BE DRILLED. Inside two years at the current pace there will be about 5,000,000 barrels a day less oil available than we now consume. Not only will the price spike you will have to wait in line for it. I know that because I have been doing oil and gas economics and drilling wells and building projects for 40 years. The companies are letting people go so fast we can’t count them going out the doors. These were good jobs. Jobs that earned enough to buy things and keep other people employed as well.

This is happening because Obama and his gang of thugs want it to happen. I have evidence that is in the EIA data files that 80,000,000 barrels of oil was moved into storage in the first 3 months of 2015, probably from the SPR. It drove the nail in the crash of oil prices and has set up shortages and a price spike in the next two years. The Saudis are participating because they are scared to death of the Russians and the Iranians and Obama has promised to protect them if they will play along. What they are doing is irrational and they are doing it because they are being extorted and are scared to death.

The oil companies don’t pay shit, you do. They can’t give anyone $10 a barrell without first getting it from someone else and they have to get it from YOU.

FUD. Fear, Uncertainty and Doubt. It is the toolkit of Obama and it is tearing us apart at the seams.

I’m just one stupid old man out hear trying to figure out what to do but can’t do anything alone. I can’t educate enough people fast enough to get any help.

[b4its2late]

We truly have an idiot in the wh.

[rainee]

LAME DUCK!

[hadaclueonce]

I sent email to my congressman John Carter.
I told Carter if he does not come out against this, I will carry people to the polls on my back to primary him.
I don’t expect to hear anything from silent John.

[centurion316]

I’m sure that you are quite right. The stupid people will follow Obama, all of the media, all of the liberals, and many right here on Free Republic.

[jafojeffsurf]

The Mental Disorder on FULL Display... Do You Really think a company pays the Tax???

They PASS ALL COST ONTO THE Customer... YOU!!! This is a TRICK to TAX YOUR WORK(Money)!!! Be a good Slave and Submit... or Get you head out of your .... and do something about this Mental Disorder! Call it into the Light of Truth!

The Enemy is within and until we deal with that Enemy we will Never be able to Deal with the Enemy’s outside the Nation.

By the way worth noting oil is now at $30 a barrel, 10 dollars is 33% INSANITY!!! What you going to do if Oil goes back up to $140. The drop in oil is the only thing helping a few make ends meet and that is not going to last long because much more Pain is headed our way... The World and us are in Recession headed for a Major Depression and there is NOTHING to stop it.

[hadaclueonce]

Obama knows conservatives are fighting with each other. Is he trying to sneak this turkey law idea past the fighting troops?

[DoughtyOne]

[FlyingEagle]

Well I am in the oil business: the consequences of this hair brained notion are astounding. We already pay severance tax, ad valorum tax, income tax, and royalties. A $10/bbl oil tax will slaughter the industry completely. There is no $10 left over after drilling and producing, paying tax and marketing. It would have to be passed along to customers, rendering every single US produced barrel of oil more costly than imported muslim Saudi oil.

Only a communist anti American muzzy would like that.

[doldrumsforgop]

I am retired oilfield trash as well.

You forgot that consumers also pay up to +50 cents per gallon for gasoline taxes, or somewhere between 1/3 to 1/4 of the entire cost of what they pump into their car.

at current crude prices, Obama is attempting to make consumers pay over 50% of the cost of a gallon of gas.