Obama: End Tax Breaks For “Big Oil”

Barack Obama speech 11 SC 300x199 Obama: End Tax Breaks For Big Oil

President Barack Obama says Americans are getting hit twice — once at the gas pump, and once more by sending billions of dollars in tax subsidies to oil companies.

Flanked by dozens of invited guests in the Rose Garden, Obama is again seeking to pressure Congress to end $4 billion in tax subsidies. He says oil companies are pulling in record profits and shouldn’t get taxpayer help when that money could be used on alternative energy.

Obama, up for re-election, has sought to align himself with people frustrated by high gas prices.

Many congressional Republicans say cutting the tax breaks would lead to higher fuel prices, raising costs on oil companies and affecting their spending on exploration. Obama couldn’t end the subsidies when Democrats controlled Congress earlier in his term.

Read More at OfficialWire. By Associated Press.

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Comments

  1. "President Barack Obama says Americans are getting hit twice — once at the gas pump, and once more by sending billions of dollars in tax subsidies to oil companies." OK, so to follow his plan our tax dollars will go to support non-competitive alternative energy while the price at the pump will increase to offset any loss of subsidies. The increase at the pump will be reflected in the cost of everything.
    I do not agree with any subsidies, the government should not be allowed to chose winners and losers.

  2. OBAMA'S VACATIONS NEED TO BE BETTER FUNDED AND HE NEEDS A LARGER STREAM OF TAX PAYER'S MONEY TO SUPPORT THE MUSLIM BROTHERHOOD, NOW IN POWER IN EGYPT. THEY WILL GO THROUGH THE LAST BILLION AND 1/2 HE JUST RECENTLY SENT PRETTY FAST GETTING THEMSELVES SETTLED IN AND PREPARING FOR THEIR NEXT CONQUEST WHICH IS MOST LIKELY US.

  3. Dark_Archer says:

    go ahead end the tax breaks for ''big oil'' ……then we will be paying 7 dollars a gal for gas

  4. Dark_Archer says:

    We the People Demand a Full Scale Investigation into the Eligibility Requirements of Obama to be President and to run again for a second term.
    please go to this link sign the petition then send it to every contact you have
    http://www.petition2congress.com

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