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White House Proposes Oil Tax to Finance Mobility Projects
The White House plans to propose a $10 per barrel fee on crude oil—currently priced at about $32—to help fund an array of personal transport options ranging from autonomous cars to railroads, Reuters reports.
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The White House plans to propose a $10 per barrel fee on crude oil—currently priced at about $32—to help fund an array of personal transport options ranging from autonomous cars to railroads, Reuters reports.
The would-be tax, which would be phased in over five years, is part of the Obama administration’s fiscal 2017 budget. The White House portrays the fee as an incentive for the private sector to reduce its reliance on petroleum and a means of promoting clean-energy options.
Reuters suggests the proposal has no chance of surviving the House and Senate, both of which are controlled by Republicans—including some who describe the proposal as “absurd.”
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