Americans are enjoying a (temporary) period of reduced gas prices, but that could soon change if Obama’s latest proposal for an additional $10 per barrel tax were to be adopted. Considering the price of oil is around $30 a barrel right now, this new tax would increase oil and gas prices by more than 30 percent.
Here’s the crazy logic behind this idea as revealed by a White House statement:
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.
In other words, Obama wants to make oil more expensive so that you’ll be forced to buy hybrid cars and rely on bird-slaughtering windmills for electricity. This may not be the worst idea Obama has ever had, but it certainly is a contender for the prize.
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