MANCHESTER, N.H.—U.S. Senate hopeful Jay Buckey is calling for a national tax on oil to spur alternate energy development.
The Democrat who hopes to challenge Sen. John Sununu says his National Security Levy would make America stronger and the economy less vulnerable to disruptions in foreign energy supplies.
He would phase in a fee on oil consumption in the United States and a price floor to stabilize the price, so alternative energy companies won't fail with low oil prices and consumers won't be squeezed by high prices.
His fee would rise with low prices to provide a predictable environment for alternative energy producers and be suspended to balance spikes in oil prices.
The revenue would pay for energy rebates to families and support an intense program to rapidly move the United States into the lead in alternative energy technology and to stimulate the economy.
