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Obama Proposes $10 Barrel Tax On Oil for Green Transportation Plan

Feb. 05 Economy, World Comments

[Washington,DC]Obama Proposes $10 Tax On Oil for Green Transportation Plan
US President Barack Obama has proposed a USD 10-a-barrel tax on crude oil to fund a new green transportation system, Criticizing,Republicans said it would raise energy prices and hurt poor Americans.
The White House said Obama’s budget to be sent to the Congress next week will lay out a bold new plan for building a 21st Century Clean Transportation System funded by a new fee paid by oil companies.
The President s plan would increase American investments in clean transportation infrastructure by roughly 50 percent while reforming the investments we already make to help reduce carbon pollution, cut oil consumption, and create new jobs.
The White House said travellers choose between walking, biking, driving, flying, and taking the train; and companies choose between trucks, barges, airplanes and rail lines.
The move was immediately opposed by the Republican leadership in the Congress.
“Once again, the president expects hardworking consumers to pay for his out of touch climate agenda.
A USD 10 tax for every barrel of oil produced would raise energy prices hurting poor Americans the most,” said Paul Ryan, the Speaker of the House of Representatives.

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