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Keyword: obamaoiltax

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  • Obama to propose $10 per barrel fee on oil

    02/04/2016 12:41:35 PM PST · by GreaterSwiss · 181 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...