Obama will propose to introduce in the U.S., the tax on oil at $10 per barrel

U.S. President Barack Obama in the draft budget for 2017 will be prompted to enter payment for oil companies in the amount of $10 per barrel, follows from the message published on the White house website.

The proceeds will be invested in developing the White house program for the development of environmentally friendly transport infrastructure.

The program involves an annual investment of $10 billion, “the President proposes to reform the existing transport programmes to ensure that local, regional and national authorities will have the highest return on government investment and provide more qualitative results”, — stated in the message of the White house.

The program is aimed at reducing carbon emissions in the transport sector — for example, by promoting more effective land-use planning, as well as through investments in infrastructure of gas stations with environmentally friendly fuel. In addition, it is proposed to develop public transport.

“Our transport infrastructure is largely dependent on oil. Therefore, we propose to Finance these investments through new contributions in the amount of $10 per barrel from the oil companies. <…> Providing for a tax on oil, the President’s plan creates a clear incentive for innovation in the private sector to reduce our dependence on oil and at the same time to invest in clean energy technologies that will form the basis of our future,” reads the statement of the White house.

As noted by Reuters, Obama’s initiative on the introduction of a levy on oil companies is likely to be negatively perceived in the Republican controlled Congress.