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Obama proposes $10-a-barrel tax on crude oil to fund green transportation

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US President Barack Obama has proposed a USD 10-a-barrel tax on crude oil to fund a new green transportation system, drawing criticism from the Republicans who 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 new fee on oil will also encourage American innovation and leadership in clean technologies to help reshape our transportation landscape for the decades ahead, it said.

Noting that the US needs a sustainable funding solution that takes into account the integrated, interdependent nature of our transportation system, 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.

“So to meet our needs in the future, we have to make significant investments across all modes of transportation.

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