Commodities
New Tax Threatens Oil
For more than seven years in his position, President Obama is done for terminating the coal industry. Now, for his last and final request for budget for his term, he is showing that he is now working on a new clear target. This would be the beaten oil industry.
The most recent proposal of President Obama was an upgrade of the country’s transportation system.
In this proposal, President Obama is wanting to spend on a cleaner alternative transportation. This would be a 50% expenses through which he will include integrating the use of new technology. Together in this proposal, it would also foresee the expansion of transit in cities, making high-speed rail, even self-driving cars.
This proposal would clearly also include a $10-per-barrel tax on oil to be paid for by the oil companies as the White House plans to implement in order to make this happen.
