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Speaking from a hybrid vehicle company in Indiana, President Obama explains how investments in clean energy will lower gas prices and help create a more stable economy over the long run.

Last Friday – just a few hours after the U.S. Labor Department released its April jobs report showing the largest increase in private-sector job growth in five years – President Obama addressed roughly 750 workers at Allison Transmission Headquarters in Indianapolis. The President spoke about the need to combat the escalating cost of gas and used Allison as an example of the type of company that will develop new technologies, reduce our country’s dependence on oil, and create jobs.

At a time when the cost of gas is reaching all time highs and the oil industry is seeing record profits, President Obama renews his call to end the $4 billion-per-year tax breaks for oil and gas companies – and, instead, invest that money to create a more sustainable energy future.

There’s a trend emerging among oil and gas companies in 2011, and that trend is record profits. As American families struggle to fill their tanks and keep their budgets in the black, they shouldn’t also have to foot the bill for oil and gas companies reaping windfall profits in their own right – that’s why President Obama called on Congress to end those subsidies.

Speaker John Boehner has already said that ending this giveaway for the gas and oil industry is "certainly something we should be looking at." But we’re asking him to make that commitment in writing – will you help?

n a letter today sent to House and Senate leaders of both parties, President Obama called on Congress to end tax breaks for the oil and gas industry. While the American economy has grown steadily over the past 13 months, creating more than 1.8 million jobs, the rising cost at the pump is hurting families and has begun to threaten our recovery. The President recognizes that no single policy will fix America’s energy problems overnight, but eliminating tax breaks for oil companies is a step we can take right now.

The President sets out his plan to reduce gas prices over the short and long term in the Weekly Address. "Instead of subsidizing yesterday’s energy sources, we need to invest in tomorrow’s. We need to invest in clean, renewable energy. In the long term, that’s the answer. That’s the key to helping families at the pump and reducing our dependence on foreign oil."

Throughout the week, President Obama has traveled the country talking about his plan for America’s future – a plan for prosperity through shared responsibility. In each of his three town hall meetings, the President addressed a different pillar of his vision:investing in education on Tuesday, supporting innovative technology on Wednesday, and creating a clean-energy economy yesterday.