Tags: Obama | oil | tax | energy

Obama Seeks $10-per-Barrel Oil Tax to Fund Clean Transport

Obama Seeks $10-per-Barrel Oil Tax to Fund Clean Transport
(Photo: AP file)

Thursday, 04 February 2016 03:59 PM

President Barack Obama wants oil companies to pay a $10 tax for every barrel of oil to help fund investments in clean transportation.

Obama will formalize the proposal Tuesday when he releases his final budget request to Congress. The $10-per-barrel fee is expected to be dead-on-arrival among Republicans who control Congress and oppose new taxes and Obama's energy policies.

Still, the White House hopes the proposal will drive a debate about the need to get energy producers to help fund efforts to fight climate change.

The White House says the fees would be used to increase funding by $20 billion per year for traffic reduction and new modes of transportation like high-speed rail. Other funds would help cut carbon dioxide emissions within regional transportation systems and integrate self-driving cars.

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President Barack Obama wants oil companies to pay a $10 tax for every barrel of oil to help fund investments in clean transportation.Obama will formalize the proposal Tuesday when he releases his final budget request to Congress.
Obama, oil, tax, energy
129
2016-59-04
Thursday, 04 February 2016 03:59 PM
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