With the average price of unleaded regular gasoline hovering at $1.75 per gallon, American consumers finally have something to crow about. But this economic good news will evaporate if President Obama has his way.

The president’s new budget proposes to add a $10 tax on every barrel of oil to fund green transportation initiatives. The revenue would be spent on mass transit, high-speed rail and vehicle research to reduce carbon dioxide emissions and save the planet. The tax supposedly would generate $32.4 billion a year from the oil companies.