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Obama: Cut tax breaks for oil companies

Published: Thu, June 3, 2010 @ 12:00 a.m.

Associated Press


President Barack Obama pressed Congress to scrap billions in oil-company tax breaks and pass legislation to help the nation kick a dangerous “fossil-fuel addiction” Wednesday, trying to channel disgust over the worsening oil disaster into a force for clean energy.

Seeking opportunity in a crisis, Obama argued for action in Congress as crews struggled into a seventh week to contain BP’s mangled oil well in the Gulf of Mexico.

He urged lawmakers to shift the tax-break money toward clean-energy research and approve a major energy bill, now stalled in the Senate, that would slap a price on carbon emissions.

Among the costs of oil dependence, Obama said in a speech at Carnegie Mellon University, is the risk that comes with drilling deep below offshore waters to find oil. He received sustained applause when he said, “We have to acknowledge that an America that runs solely on fossil fuels should not be the vision that we have for our children and grandchildren.”

Copyright 2010 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


1jason83(21 comments)posted 6 years, 1 month ago

Just what we need. Another tax increase to be passed down and cause more hardship to us, the end users.

Where was Obamas hard line stance against fossil fuels when he brought his dog and pony show to V&M Star recently? V&M makes pipe used to drill for fossil fuels. Obama and timmy did nothing but pat each other on the back for the success of V&M star. Of course, anyone with half a brain knows they have had nothing to do with the success of V&M. If it were up to Obama and his timmy like cronies, V&M would be shuttered in lieu of a few trees and a windmill.

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2PXGhost(51 comments)posted 6 years, 1 month ago

Can you say: $15.00 a gallon gasoline?

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3MH3(8 comments)posted 6 years, 1 month ago

The mess in the Gulf may have something to do with allowing the Oil Industry Execs write our National Energy Policy.

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4PXGhost(51 comments)posted 6 years, 1 month ago

@MH3 - The mess is the Gulf may have more to do with the EXPLOSION on the deep water horizon rig that sank and tore a mile of steel pipe awkwardly so as to allow a steady flow of oil. So, what caused the explosion? We don't know yet. Patients will lead to answers, and then we can make an educated decision on how to proceed.

Oh, there I go being sensible and all.

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5kellymona03(1 comment)posted 6 years, 1 month ago

It is sad and sick to see how many people on Gulf of Mexico got affected, but money wont solve all their problem in during the tough times. My friend sent me an email that if you would like to claim for compensation the best place is oil spill claim center http://bit.ly/8Xj11D please forward this to your friends and family who may need this.

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6redvert(2240 comments)posted 6 years, 1 month ago

I saw a brown oily looking substance in the ditch in front of my house today! What was that website again? I bet the folks in New Orleans are gonna jump on this!

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