Despite opposition by the GOP and protest by oil executives, Democrats have continued their call to end government tax breaks for major oil and gas companies, the beneficiaries of windfall profits this year. But it was only a short time ago when Republicans, too, supported ending these unfair tax breaks.
Read MoreToday in the Senate, Democrats are holding a hearing on eliminating unnecessary tax breaks for oil and gas companies -- and to discuss the need to combat rising energy prices. In the face of staggering oil industry profits, President Obama and congressional Democrats are pressing for an end to these unneeded government subsidies. Republicans, however, are refusing all efforts to roll back Big Oil’s $4 billion taxpayer payday.
Read MoreSpeaking 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.
Read MoreLast 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.
Read MoreAt 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.
Read MoreThroughout 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.
Read MoreFor more than 40 years, America has celebrated Earth Day. It's a time not only to celebrate the environment, but to renew our commitment to protect and preserve America’s natural habitats and ensure that our air and water are clean.
Read MoreWith gas prices continuing to rise, President Obama is taking a proactive approach to America’s energy needs, which includes making investments in clean and sustainable energy sources to break our country’s addiction to oil. Also part of that effort, the President is working to protect Americans from potential price gouging.
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