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February 05, 2016
Obama to Propose New Fee on Oil
Citing the opportunities in addressing climate change, the President's budget proposal will include a $10 per barrel fee on oil that will be used to build a sustainable national transportation infrastructure.
It's not quite the trillions of dollars necessary for the transition to a low-carbon economy. But
the White House has announced that, in his budget proposal,
President Obama will call for a $10 per barrel fee on oil; the money “would increase American
investments in clean transportation infrastructure by roughly 50 percent,” a fact sheet states.
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