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Obama Proposes Oil Tax to Save Clean Energy Projects - Oil Firm Executive

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The Fearn Oil Vice President told Sputnik that US President Barack Obama proposed a major oil tax to sustain his clean energy initiatives amid historically low oil prices.

WASHINGTON (Sputnik) – US President Barack Obama proposed a major oil tax to sustain his clean energy initiatives amid historically low oil prices, Fearn Oil Vice President Michael Moore told Sputnik.

The Obama administration introduced the Clean Transportation Plan this month, which includes a $10.25 per barrel fee on oil.

"With the [Saudi] strategy being if they can keep the fossil fuel sector low, world economies have no choice but to use the lowest cost fuel and not pay premiums for all the alternatives," Moore stated. "That’s why Obama talked about a tax, artificially raised, that’s not a market price."

Fearn Oil’s vice president noted that the "trifecta" of oil, natural gas and coal being the cheapest in decades pushes economies to switch to fossil fuels rather than adopting a renewable energy approach.

Moore further commented that the recently proposed $10 oil tax has no chances to be implemented in the United States.

"Of course, that won’t happen in this country. Republicans won’t stand for it," he said.

The US Department of the Treasury claimed that the tax would help to improve the country’s infrastructure, as well as better manage resources.

If approved, the Clean Transportation initiative would be phased in over a five-year period.

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Tags:
Clean Transportation Plan, oil tax, clean energy, oil price, Barack Obama, United States
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  • jas
    Obama is the best fund advertisement the GOP ever had.
  • Beady-eyed Insomniac
    With Supreme Court Justice Antonin Scalia out of the way - Obama can now feel better about steam rolling his "clean energy initiatives" through.

    Industry groups and 27 states are currently suing to overturn the Clean Power Plan in court, arguing that the EPA overstepped its authority under the Clean Air Act to regulate CO2 in the way it did.

    That case is being heard by a three-judge panel of the DC Circuit Court. Oral arguments begin June 2.
  • Marc Nonnenkamp
    Barack Hussein Obama does nothing but increase taxes. He is successfully ruining one industry in the USA after another, successfully driving capital outside of the USA, successfully driving wealthy Americans outside of the USA and turning the USA into a Third World country.
  • backfromthegraav
    Hows that OIl Price drop strategy going .... not affecting AmeriCun Shale business ... ROFLOL
  • backfromthegraavin reply toMarc Nonnenkamp(Show commentHide comment)
    Marc Nonnenkamp, Well Obama didn't get there alone ... Loads of AmeriCuns thought that this is teh Best Way fwd .... Mind you the genis move was to Drop Oil Prices to Hurt Russia and think that AmeriCun Oil Price would remain High ...ROFLOL
  • wconell
    Why not try and find the trillions of dollars that are missing?
    Oh yeah- they secretly spent that illegally, and now they need more money to lose.
  • White_Eagle1
    Obama also wants to outlaw modifying gas engioned cars for racing. Just leave alternate energy cars for racing. Really...he wants to tax everyone to fund his own pet projects.
  • White_Eagle1in reply towconell(Show commentHide comment)
    wconell, They could build a Starship Enterprise with what they have stolen as well as spent on illegal wars and false flags.
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