Obama to propose $10 per barrel fee on oil

CNBC ^ | 2/4/2016 | Jacob Pramuk

[GreaterSwiss]

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 clean energy technologies that will power our future," the White House said in a statement.

[GreaterSwiss]

A way to redistribute our gas money to his "friends"

[Angels27]

Any Republican in congress that votes for this BETTER be run out of office on a rail in November.

[Angels27]

Any Republican in congress that votes for this BETTER be run out of office on a rail in November.

[Buckeye McFrog]

Let’s call it the Willie Green tax.

[wrench]

It isn’t a fee, that sort of thing is called a tax.

[1Old Pro]

Any Republican in congress that votes for this BETTER be run out of office on a rail in November.

Agreed !!!!

[Mr. K]

you mean RIGHT NOW...

[Pearls Before Swine]

So oil would cost ten dollars a barrel more than anywhere else. Way to help our competitiveness.

(Yeah, I know Europe has huge taxes on automobile fuel... but still..)

[dfwgator]

[DaxtonBrown]

$10 a barrel fee when it is selling at $35? This is utter insanity, treason really. I lost a good chunk of money on a coal stock because Obama ran that into the ground. Now he wants to sabotage oil?

[Army Air Corps]

Ping.

[punknpuss]

Slush fund.

[Bryan24]

Just so you have the numbers, the US consumed 6.97 Billion barrels of oil in 2014.

That would be a SIXTY BILLION DOLLAR TAX on the American taxpayer.

[Army Air Corps]

Willie Green Memorial Ping.

[IC Ken]

Re>Any Republican in congress that votes for this BETTER be run out of office on a rail in November.

Needs said again.

[I want the USA back]

Damn this son of a bithc.

[Army Air Corps]

"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.

It is called "Economic Coercion."

[Trumpinator]

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.

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Remember the revolt in Europe when this happened?

[chae]

I really loathe this man-child.

[servantboy777]

>>Oil companies would pay the fee<<

This guy and all his minions haven’t a clue. Just like everything else, it’ll be passed through to consumers.

Man, I really despise liberals.