ST. LOUIS, MO. (KTVI)- President Obama is calling for a new $10-per barrel tax on oil.
The tax would be paid by oil companies as opposed to directly by consumers. The fee would only apply to imported oil, crude oil pumped in the United States would not be taxed.
The plan would be used to create an initiative for clean transportation investments.
Even so, the proposal is unlikely to get through the Republican-controlled Congress.
The U.S. imported 7.4 million barrels of oil each day in November 2015, down from ten million barrels-per-day at the end of 2005.