Is there a sharp line I can use against 1...b6 if I play 1.e4?
Seems to be called the owen defense. Not a lot of games in the database I used, but d4 had white winning a vast majority of the games as black scrambles to recover after losing the center. The traps seem to be on black's side ... white seems to play normally and out-develop black at an alarming rate leading to superior positioning and a slower win.

I agree. I think white has a narrow path to an edge if at all. I recall there are lines with d5 gambiting a pawn if an early c5 for black, otherwise French like structures. I don't think white can 'wing it' against 1...b6

But Jonnin is not very correct, black is neither 'scrambling to recover after losing the center' or getting out-developed quickly.
So what does black do on 3 & 4? The line so far agrees with the majority of the lines I looked at, 3 & 4 are where it you start to see more variations.
I don't take the databases as perfect but the majority of the popular openings have a rough 1/3 split on win/lose/draw. This one, the sample size is smaller due to being unpopular but still, many thousand games and white won over half of them and drew a good chunk more. I went looking in the games for traps and punishment but all the won white games I found were a slow grindy win for white, not a tactical punishment for a failed opening. Show me the knockout setups for white, if you know one. I would be very interested to see it!
It seems like a black's blitz opening, confusing and deadly to someone who had not seen it before or studied it much.

As stated here the Bd3, Qe2 lines are very critical for black, Lakdawala says the same in his book 1...b6 Move by Move, but watch out for Blatny's Lopez line which looks interesting for black but probably cannot be right

1 e4 b6 2 d4 Bb7 3 Bg5!? is an idea from Stefan Bücker, which he called the Mousetrap. The idea is 3...Bxe4 4 d5 — the mouse has taken the cheese and now can't get back in its hole and can be targeted to increase White's development. It's only borderline sound, but White has an 80% score with it in my databases.
Possibly of interest:
Playing 1.e4 - Caro-Kann, 1...e5 and Minor Lines by John Shaw
http://www.qualitychess.co.uk/ebooks/Playing1e4CaroKannandothers-excerpt.pdf
My First Chess Opening Repertoire for White by Vincent Moret
https://www.newinchess.com/media/wysiwyg/product_pdf/9033.pdf
https://www.chess.com/article/view/how-to-understand-openings
A SIMPLE CHESS OPENING REPERTOIRE FOR WHITE by Sam Collins
http://www.jeremysilman.com/shop/pc/A-Simple-Chess-Opening-Repertoire-for-White-76p3916.htm
http://www.gambitbooks.com/pdfs/A_Simple_Chess_Opening_Repertoire_for_White.pdf

I faced the Owen Defense once in the game below where I decided that if my opponent didn't want to control the center and threaten my position I would do it - my same attitude against the Modern Defense or Pirc Defense. I started a Pawn Storm right up the middle, won a piece, got greedy and sloppy and ended up losing the game. But the opening idea is, I think, sound: