US President Obama will next week outline proposals to introduce a $10 tax on every barrel of oil produced by US oil firms.

The plans will be announced in the White House budget proposal next week.

The White House says the tax would generate $20 billion (£13.7bn) a year, which would be spent on green technologies and transport systems.

"By placing a fee on oil, the President's plan creates a clear incentive for private sector innovation to reduce our reliance on oil and at the same time invests in clean energy technologies that will power our future," the White House said.

But the proposals are unlikely to make their way into law. Voters will likely react angrily because it will raise petrol prices, oil companies will feel like they are being kicked while they are down and the GOP-controlled Congress probably wouldn't pass the bill.