WASHINGTON – Institute for Energy Research President Thomas Pyle issued the following statement about the Obama administration’s plan to propose a $10/barrel tax on oil:
“The president is proposing a nearly 24 cent per gallon tax on the very energy source that keeps Americans and our economy moving. This is a tax on every American driver, and it would have the harshest impact on those who can least afford it. For a president who claims to care about helping the poor, he sure doesn’t show it in his policies. Fortunately, this proposal is dead on arrival in Congress. However, the president is clearly trying to lay the groundwork for a future carbon tax.
“The administration is claiming the purpose of this tax is to raise revenue for some grand transportation plan, but it’s really about taxing the energy they don’t like to make President Obama’s favored energy sources and companies more profitable. The revenue generated from a new energy tax is peanuts compared to the revenue, jobs, wages, and economic activity that could be created by simply opening federal lands to energy development. Now that he has nothing to lose politically, the president is showing us his true stripes by trying to impose an energy tax on American families.”