Last week, President Obama proposed a $10 per barrel of oil export tax on American oil to fund a so-called “21st century clean transportation system.” While President Obama has a fondness for executive order, this proposal likely would have to go through Congress. If it does, will embattled Democratic Senator Michael Bennet roll out the red carpet for this terrible idea in order to pander to the Democratic base or will he stand up for Coloradans?
The tax that President Obama is suggesting would have a particularly detrimental effect on Colorado. Currently, the price per barrel of oil is at historic or near-historic lows, and adding a $10 tax on top of that would prevent Americans from enjoying lower gas and electricity prices as a result of low gas prices. In addition, here in Colorado, we have hundreds of thousands of people who rely on the oil and gas industry to provide cheap energy, jobs, roads, schools, community resources and more. If Obama cripples this sector, what negative effects will that have on Coloradans?
So, back to the original question. Where does Sen. Bennet stand on President Obama’s $10 per barrel tax? Will he side with his donors and base or all of Colorado? This is a test of his leadership. We’re waiting.