News Update to Come, page-140

OMG Obama has done it again....thanks OBAMA

Obama proposes a $10-per-barrel tax on oil to fund cleaner transportation
Updated by Brad Plumer on February 4, 2016, 5:20 p.m. ET @bradplumer [email protected]



Nothing left to lose. (Olivier Douliery-Pool/Getty Images)

It's the last year of President Obama's presidency. He doesn't have to stand for reelection. Congress isn't going to pass any of his proposals anyway. So he may as well dream big.

That's one way to read this new ideaObama's putting forward: He's suggesting that Congress slap a $10-per-barrel tax on oil, phased in over five years, in order to fund $300 billion worth of investments in "clean transportation" over the next decade. That would mean massively increased spending on mass transit, high-speed rail, self-driving cars, freight upgrades, and so on.