Obama seeks $10-a-barrel oil tax for clean transport

[guywhofishes]

President Barack Obama is proposing a $10-a-barrel tax on oil to pay for clean transportation projects, the White House said Thursday.

The tax, which will be part of the budget request Obama unveils next week, would be paid for by oil companies and gradually phased in over five years.


Obama’s proposal lands in the midst of the 2016 election campaigns, and is likely to be harshly criticized by both Republican presidential candidates and lawmakers alike. In past years, Obama has proposed eliminating subsidies for the oil-and-gas industries. But those efforts have never made it through Congress.



The tax would add roughly 25 cents to a gallon of gasoline, at current prices.

The White House said Obama’s plan would boost investments in clean transportation by about 50%.

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V - please move to politics if desired :;:howdy

 

[FishReaper]

kiss my what???

 

[deleted_account]

 

[Enslow]

Opec would love that... Wonder where he got that idea from...

 

[Davey Crockett]

OUCH, I hope it's just a get rich quick scheme that will get bought out by big oil and swept under the rug. If we can just hold off for the rest of this year.

 

[dr_weather]

...he probably picked it up during his Mosque visit yesterday.

 

[Kurtr]

What a dumb fer

 

[johnr]

Seems like a progressive idear

 

[PrairieGhost]

Opec would love that... Wonder where he got that idea from...

OPEC

 

[dean nelson]

OPEC would hate it. All it would do is cause a net nagitive reaction on gas consumption. Now it's impact would be small but it still would hurt their already weak oil market. They want everyone to burn more oil not less!

 

[Account Deleted]

Titty sprinkle that.

 

[shorthairsrus]

you put that tax on imported oil --- I might not have a problem with that. Then you take the EPA out of it -- and give me back my E - free gas for me boat.

 

[eyexer]

he forgets who controls congress. what an ass clown

 

[You]

OPEC

If GST can spin this one word/acronym response into an attack on his bff Plainsman, I may have to concede/agree with him in that he is the smartest man in the known universe.

Disclaimer: GST has never explicitly stated that he is the smartest man in the known universe. (Nor does he need to.)

Fun fact(s): the hatfields wouldn't have made the history books without the mccoys and I had a fried pork chop for supper, seasoned with ttd

 

[gst]

If GST can spin this one word/acronym response into an attack on his bff Plainsman, I may have to concede/agree with him in that he is the smartest man in the known universe.

Disclaimer: GST has never explicitly stated that he is the smartest man in the known universe. (Nor does he need to.)

Fun fact(s): the hatfields wouldn't have made the history books without the mccoys and I had a fried pork chop for supper, seasoned with ttd

WTTS

 

[Brian Renville]

you put that tax on imported oil --- I might not have a problem with that. Then you take the EPA out of it -- and give me back my E - free gas for me boat.

This^^ or any/some/all other manufactured stuff coming into our ports from overseas companies who don't have to play by the same rules companies in the states do. Apple would be a good place to start(as I type with an iPhone) tell them they get taxed on imports until they stop the sweat shop shenanigans.

Most importantly though if anyone thinks he Feds need to bring in one more cent of revenue they have officially lost their minds.

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After reading a full article on it it says the tax will be on imports and not US exports.

 

[raider]

this automatically gives the muslim sellers a $10 advantage... then we can give THEM the $10 too... maybe they'll name a mosque after me...

 

[Brian Renville]

President Barack Obama will submit a budget request to Congress next week that includes a requirement for oil companies to pay a $10 fee to the federal government for every barrel of oil they produce, the White House said Thursday. That's 33% of the current price per barrel.
The administration claims the fee could bring in up to $32 billion in new federal revenue per year and would be allocated to highway infrastructure and research for cleaner vehicles.
Jeff Zients, director of the Obama administration's national economic council, told reporters that the fee would be paid by oil companies, but they would inevitably pass it along to American consumers. He said the fee would be levied on imported oil products, but not on US oil exports in order to ensure a "level playing field" for US producers in the global market.
Reaction from industry representatives and congressional Republicans was swift and immediate:
The Independent Petroleum Association of America said in response to the proposal that "it makes little sense" to raise costs on the oil industry, which is now amid its worst financial crisis in 25 years." The IPAA added, "This is an energy consumer tax disguised as an oil company fee."
The American Petroleum Institute estimated the proposed fee would raise gasoline prices $0.25 cents a gallon. API's chief executive Jack Gerard said in a statement, “The White House thinks Americans are not paying enough for gasoline, so they have proposed a new tax that could raise the cost of gasoline by 25 cents a gallon, harm consumers that are enjoying low energy prices, destroy American jobs and reverse America’s emergence as a global energy leader.”
Republican House Speaker Paul Ryan said the proposal was "dead on arrival" in Congress. "A $10 tax for every barrel of oil produced would raise energy prices- hurting poor Americans the most...President Obama is still on a mission to destroy a major backbone of the US economy...As this lame duck president knows, it's dead on arrival in Congress..."

 

[Crankn]

Tax;:;boozerTax:;:deadhorseTax

 

[Sluggo]

"President Barack Obama will submit a budget request to Congress next week...." Does this mean that it would not become law unless Congress passed it or will it be one more law imposed on us subjects via the stroke of the king's pen?