(westernkansasnews.com) Many are calling it a bad idea, but that has not stop President Obama from asking Congress to pass a $10 tax on every barrel of oil produced. The goal to use the projected $319 billion dollars raised and invest it in cleaner energy. This news is not a surprise to Ed Cross, President of the Kansas Independent Oil and Gas Association.
The burden of facing regulations is that many of the requirements are redundant.
If ultimately the tax passes, energy will not be the only one feeling the pinch.
Cross does not think this is the right time to tax an industry that is trying to regain its footing.
The propose tax is estimated to raise a gallon of gasoline by 22 cents.