News & Politics

Obama to Propose $10-a-Barrel Oil Tax Hike

Of course he will: because he really, really hates us.

President Obama will propose a $10-per-barrel fee on oil production to fund a new green transportation plan, the White House announced Thursday.

The proposal would go toward a $32.4 billion annual push to green the transportation sector by funding public transit, an urban planning initiative and clean vehicle research, the White House said in a fact sheet. Obama will include the plan in the budget request he releases next week.

The plan will likely die in the GOP-controlled Congress, which will vet Obama’s budget request before writing spending bills later this year.

But the proposal represents a new front in Obama’s climate change end-game: After finalizing carbon reduction regulations for the electricity sector last year, he is turning his attention back to the transportation sector, which accounts for 30 percent of American carbon emissions every year.

Charging the fee to oil companies, the White House said, is both a funding mechanism for the transportation initiative and an incentive for the private sector to move toward cleaner fuel.

Because the Democrats cannot abide your having one more cent in your pocket than necessary, nor one more ounce of personal freedom. And because the man is simply malevolent.