President Obama Proposes $10 Per Barrel Tax On Oil In Push F

  • President Barack Obama proposed setting a $10 fee per barrel of oil, paid by oil companies, as a way to fund cleaner transportation investment.

    Well, we must admit that the timing for this new tax was perfect from the oil price stand point, as prices are now the lowest they’ve been in many years. Just imagine how this news would’ve be received when oil prices peaked a few years ago.

    The intention is to gradually phase out the fee in over five years, but you know that once established, taxes like to stick to us forever, right? ... transport/

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