oil tax

(Newser) - President Obama, apparently embracing his position as a Democratic president with no elections left to fight, is proposing a hefty new tax on oil to fund cleaner energy and transportation. The White House says Obama's budget request to Congress will include a $10-per-barrel tax on oil companies, which would...

(Newser) - Barack Obama vowed on the campaign trail to slap oil companies with a windfall tax, but, blogs Kevin Drum at Mother Jones, it might've all just been old-fashioned populist bluster that's led to Obama’s first breach of a campaign promise. The American Small Business League has noted, and decried,...

(Newser) - Senate Republicans today fended off a Democrat-sponsored bill that would have heaped a 25% tax on the five biggest US oil companies and rolled back other tax breaks for the industry, the Houston Chronicle reports. President Bush had threatened to veto the measure, hailed by Dems as "energy price...