Obama Urges Congress to
End Tax Breaks For Oil Companies
March 19, 2012
U.S. President Barack Obama renewed his call for Congress to end tax
subsides for oil companies, as gas prices continue to rise.
Obama said during his weekly address Saturday, he expects Congress to
vote in a few weeks on ending $4 billion in tax subsides to
profit-making oil companies.
Obama says Congress should lend its support to developing alternative
energy sources, including wind, solar power and bio fuels.
In the Republican address, Congressman Cory Gardner criticized President
Obama for using part of his $800 billion stimulus package to support
energy companies that went bankrupt. Gardner says high gas prices are
symptoms of the administration's failed stimulus policies.
President Obama will take his energy plan on a promotional road trip
next week, traveling to four states (Nevada, New Mexico, Oklahoma and
Ohio). The plan focuses on developing alternative energy sources, while
continuing domestic oil production.