Obama's Most Egregious Attack on Gas & Oil Yet

President Barack Obama is about to unveil an ambitious plan for a “21st century clean transportation system.” And he hopes to fund it with a tax on oil.

Obama aides told POLITICO that when he releases his final budget request next week, the president will propose more than $300 billion worth of investments over the next decade in mass transit, high-speed rail, self-driving cars, and other transportation approaches designed to reduce carbon emissions and congestion. To pay for it all, Obama will call for a $10 “fee” on every barrel of oil, a surcharge that would be paid by oil companies but would presumably be passed along to consumers.

AND

The biggest chunk of Obama’s proposed new spending, about $20 billion a year—roughly equivalent to the EPA and Interior Department budgets combined—would go to “enhanced transportation options,” especially alternatives to driving and flying. That would include subways, buses, light rail, freight rail modernization projects, and a major expansion of the high-speed rail initiative that Obama launched in his 2009 stimulus bill. It would also include a 150 percent increase for a more popular stimulus program known as TIGER, which provides competitive grants for multi-modal transportation projects with measurable economic and environmental benefits.

Obama’s plan will also include about $10 billion a year to encourage local, regional and state governments to plan and build smarter infrastructure projects, including incentives to reduce carbon emissions through land-use planning, public transit, electric-vehicle charging, and other strategies. There would be a Climate Smart Fund to reward states that make greener choices with existing federal dollars, as well as competitive grant programs to promote region-wide planning, more livable cities, and infrastructure projects with greater resilience to climate impacts.



Read more: http://www.politico.com/agenda/story/2016/02/obama-oil-tax-budget-0...

 

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Replies to This Discussion

Permalink Reply by bo boboski on February 4, 2016 at 10:11am

He needs to just GO AWAY!  Golf until November,then Retire.

Permalink Reply by Mike Fulper on February 4, 2016 at 10:24am

Trump... will solve all these problems the Democrats have caused

Permalink Reply by G.H. on February 4, 2016 at 10:51am

Wow.  What a joke.  But I firmly believe Trump is not the answer.

Permalink Reply by Barry D on February 4, 2016 at 2:19pm

You have to love ideologues such as the President.

They always come up with these great plans that will make our lives so much better. To pay for it they always someone that has to much money.

Unfortunately, we, the people, you and I are the ones who always pay for these pie in the sky proposal. In this instance the evil spectre that has too much money are the oil companies. Yeah Right! Does anyone seriously believe the oil companies will eat this new tax? No way; this will be passed on to you and I at the pump.

This proposal should be DOA

For those of you who will argue that the oil companies make too much money and can afford it, save your breath. You don't know about which you think. I suggest that you look up average percentage of profit for an oil company; then compare it to the profits of other industries.  If I recall correctly, the average profit for companies in the oil industry is about 7%. There are plenty of other industries where the companies realize much higher profits.

Permalink Reply by paleface on February 4, 2016 at 2:36pm

I think pharmaceutical's are at the top of that list.

Permalink Reply by Barry D on February 4, 2016 at 4:59pm

paleface,

Yes indeed along with agricultural businesses.

Permalink Reply by Joe on February 5, 2016 at 6:00pm

 .

Permalink Reply by Joe on February 5, 2016 at 6:02pm

Barry D

Oh. So your saying the major stock holders have been reduced to washing their own clothes cooking their own meals, selling off their planes, boats, mansions, Cadillacs.?

Poor me, poor me, poor, poor, pitiful me

Permalink Reply by David Perotto on February 4, 2016 at 4:24pm

One word, socialism.

Permalink Reply by John Cape on February 5, 2016 at 6:57am

Gasoline taxes are normally imposed by local and state organizations. This fee would have to imposed on all imported oil and also on any U.S. oil sold in the U.S.  In short, this is basically a suggestion from the federal government to impose a federal tax on gasoline.

Gasoline prices are in the $1.50 range right now and a 25% tax means that we would all be paying something less than $2 a gallon (on the low end and for regular gasoline). That would still mean that gasoline prices are considerably cheaper (at these low oil prices) than they were in 2014.  Consequently, it probably wouldn't impact the demand for gasoline very much in the United States.  For a point of reference, the price of gasoline in other countries has been held higher over the past few years or been subject to much higher taxes. http://www.globalpetrolprices.com/gasoline_prices/

As oil prices rise, this tax would rise with it and be a smaller percentage of the total price. At which point the government could continue to raise this tax to higher levels. In short, it's the camel's nose under the tent. 

It would be much more interesting for the U.S. to only impose this tax on imported oil. That way, U.S. producers could make another $10 per barrel and avoid a lot of bankruptcies during the current low price environment. However, that would require the government to actually want to support the U.S. oil and gas industry against the predatory pricing that is being temporarily inflicted on the world by OPEC.   

Permalink Reply by bo boboski on February 5, 2016 at 7:36am

When oil was at $120. per bl.,maybe yea,good idea,but at $30. it would guarantee numerous bankruptcies.

Permalink Reply by Jim Litwinowicz on February 5, 2016 at 9:43am

There is currently a federal gasoline  tax of 18.4 cents/gal and a diesel tax of 24.4 cents/gal that has been set since 1993. This tax is on all oil which would be on all oil products which would include plastics, pharmacological products, and much more. The proposed tax would be phased in over five years, if ever passed.

Just goes to show how socialists think. Oil companies are in deep trouble with heavy debt loads that will force many into bankruptcy. They have laid off a couple hundred thousand workers. Related and support businesses are reporting a 35% decline in business, sparking further layoffs. Financial stocks are taking a hit as investors fear the coming bankruptcies will affect the bankers. The average person is getting a break on energy costs, helping offset the big increases in healthcare and college costs.


So what does the Socialist-in-Chief propose? A huge tax increase of $10/barrel on oil, which is about a 30% increase of the price per barrel. Who does he think will really pay for that increase? Does he think there is any chance that the increase in taxes will not be past along to the consumer?

And most of all, we have a school that is terribly divided and angry over our corrupt BoT, inept admin, and pissed at the B1G and the NCAA?
And most of all, we have a school that is terribly divided and angry over our corrupt BoT, inept admin, and pissed at the B1G and the NCAA?

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