Obama Seeks $10-Per-Barrel Oil Tax to Fund Self-Driving Vehicles

by SpeedLux

For the upcoming 2017 financial budget, Head of state Barack Obama has proposed a $10-per-barrel tax on oil to money autonomous vehicles and boost traffic. The oil tax would be phased in over the following 5 years if the proposal passes.

The strategy allots merely over $2 billion annually for research on cleanse transportation and autonomous vehicles. An awesome $400 million each year will certainly go toward making sure the safe combination of clever automobile innovations. The Obama administration recently pressed with an effort to assist speed up self-driving automobile development.

The Obama also wants to invest an added $20 billion a year over existing degrees to minimize traffic, a plan that consists of making a high-speed rail system a practical option to flying. An added $10 billion will certainly approach regional programs. As part of this strategy, state federal governments will receive incentives for minimizing carbon contamination with methods like better land usage planning.

The Obama administration states the $10-per-barrel fee would be paid by oil companies, but the costs would undoubtedly obtain handed down to consumers.

Obama has previously made bold propositions for the deployment of clean vehicles. In 2008, he declared an objective of putting 1 million plug-in electrical cars when driving by 2015. That strategy faltered; just 400,000 EVs have been offered, as per Reuters.

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