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Earlier today, President Obama announced new fuel efficiency standards that will save businesses roughly $50 billion between 2014 and 2018 by lowering fuel costs for commercial vehicles. Starting three years from now, work trucks, buses, and other medium- and heavy-duty vehicles will be required to meet these new standards for efficiency and greenhouse gas emissions.

For President Obama, clean energy isn’t merely a buzz-word or pipe dream. It’s a central part of his strategy to help our country recover from the Great Recession and remodel our economy as an energy and technology powerhouse.

With gas prices exceeding $4 per gallon throughout the country, Senate Democrats are fighting to make sure that taxpayers trying to fill their tanks are getting a fairer shake -- instead of also subsidizing the oil companies raking in record profits from the high prices. This week, the Senate is poised to vote on a measure that would eliminate $21 billion in tax breaks over 10 years for major oil and gas companies.

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.