From NEWSMAX:
President Barack Obama is calling anew on Congress to end tax subsidies for the oil and gas industry, saying the nation needs to develop alternative sources of energy in the face of rising gasoline prices.
Obama said Saturday in his weekly radio and Internet address that he expected Congress to consider in the next few weeks halting $4 billion in tax subsidies, something he hasn’t been able to get through Congress throughout his presidency. He said the vote would put lawmakers on record on whether they “stand up for oil companies” or “stand up for the American people.”…
Industry officials and many Republicans in Congress have argued that cutting the tax breaks would lead to higher fuel prices, raising costs on oil companies and affecting their investments in exploration and production. The measure is considered a long shot in Congress, given that Obama couldn’t end the subsidies when Democrats controlled Congress earlier in his term…
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EDITOR: “Big Oil” would be better described as “Pig Oil”, stuffing themselves with huge subsidies from the American public despite astronomical profits, a few crumbs of which they use to pass dis-information campaigns to propagandize that they are working in the public interest and to pay off politicians with campaign contributions and future jobs. Is this really what individual Republicans want? Will they ever wake up to how they are being fleeced?
