Obama Urges Congress to End Tax Breaks For Oil Companies

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U.S. President Barack Obama renewed his call for Congress to end tax subsides for oil companies, as gas prices continue to rise.

Obama said during his weekly address Saturday, he expects Congress to vote in a few weeks on ending $4 billion in tax subsides to profit-making oil companies.


President Obama says Congress should lend its support to developing alternative energy sources, including wind, solar power and bio fuels.

In the Republican address, Congressman Cory Gardner criticized President Obama for using part of his $800 billion stimulus package to support energy companies that went bankrupt.  Gardner says high gas prices are symptoms of the administration’s failed stimulus policies.

President Obama will take his energy plan on a promotional road trip next week, traveling to four states (Nevada, New Mexico, Oklahoma and Ohio).  The plan focuses on developing alternative energy sources, while continuing domestic oil production.

Some information for this report was provided by AP.





  1. Just more demonizing of some other group or Company to deflect from this President’s horrible lack of leadership and the truth that he wants higher energy costs for this Country. He has done a great job doing this by wasting our Tax Payer Dollars with Green Energy projects that go bankrupt, created an environment that is Anti-Energy by drilling far less during his Administration and most importantly his printing of Dollars since his inaguartion that has driven the Dollar in which we have buy Oil on the Open Market to new worthess levels. Those are the facts.
    Re-Elect President Obama? I think instead of this course you seek some quiet time and really think about this.

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