42°
Baton Rouge, Louisiana
7 Day Forecast
Follow our weather team on social media

Obama seeks $10-per-barrel oil tax to fund clean transport

10 months 3 days 22 hours ago February 04, 2016 Feb 4, 2016 Thursday, February 04 2016 February 04, 2016 3:53 PM in News
Source: Associated Press
By: APnewsNow

WASHINGTON - 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.

More News

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
Radar
7 Days