Nix the oil industry tax subsidies
President Obama continues to discuss the need to nix the $4 billion in oil industry tax subsidies.
Mon, May 02 2011 at 5:02 PM
According to the Energy Information Administration, the national average price for a gallon of gasoline
is $3.963. This is $1.065/gallon higher than it was one year ago. In the last two weeks, gas prices have increase by almost $0.12. While a 12-cent increase doesn’t sound like much, gas prices are rising on a daily basis and there is no end in sight.
The rising gas prices are drawing a critical eye to $4 billion in taxpayer-funded oil industry subsidies. President Obama discussed his desire to end these subsidies and focus investments on clean energy during this week’s presidential address.
“I refuse to cut things like clean energy that will help America win the future by growing our economy and creating good-paying jobs; that will help make America more secure; and that will help clean up our planet in the process. An investment in clean energy today is an investment in a better tomorrow. And I think that’s an investment worth making.” Source: The White House
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