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Obama to seek new tax on oil in budget proposal

February 4, 2016 by · Leave a Comment 

U.S. President Barack Obama will propose a $10-a-barrel fee on oil in his budget plan next week, as the White House seeks to boost the nation's investments in clean transportation projects, the White House said on Thursday. The fee, which would be paid by oil companies, is likely to fall flat in the Republican-controlled Congress. In the last year of his presidency, Obama has said the country must stop subsidizing the “dirty” fossil fuels of the past and focus on…

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Obama to seek new tax on oil in budget proposal