President Barack Obama.(Photo: ANDREW HARRER | BLOOMBERG)
DENVER BUSINESS JOURNAL - Those interested in Colorado’s energy sector reacted swiftly Thursday to word that
President Barack Obama plans to propose a $10 per barrel tax on oil and use the money to help pay for an overhaul of the nation’s transportation system.
The $10 per barrel fee, part of Obama’s fiscal 2017 budget plan to be released on Tuesday, would be paid by oil companies and phased in over five years, the White House said.
“By placing a fee on oil, the President’s plan creates a clear incentive for private sector innovation to reduce our reliance on oil and at the same time invests in clean energy technologies that will power our future,” the White House said in a fact sheet released Thursday and available here.
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