Rather than taxing oil, we could simply remove it's subsidies. https://en.wikipedia.org/wiki/Energy_subsidies#United_States https://en.wikipedia.org/wiki/Energ

Rather than taxing oil, we could simply remove it's subsidies. https://en.wikipedia.org/wiki/Energy_subsidies#United_States https://en.wikipedia.org/wiki/Energy_subsidies#United_States However, the user should be aware that the tax or subsidy-removal would be regressive. Poor people and small businesses spend more of their income on gas than richer people & businesses.