>President Obama’s Weekly Address 4/30/11: Ending Taxpayer Subsidies for Oil Companies

>WASHINGTON – As oil and gas companies make tens of billions in profits and the government scours the budget for savings, President Obama called on Congress to stop handing them $4 billion annually in taxpayer subsidies. America’s oil production last year reached its highest level since 2003, but we need to invest in the energy of the future, instead of subsidizing the energy of the past.

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Filed under Big oil, energy independence, oil and gas industries, President Obama, tax payer subsidies, weekly address, wind and solar power, windfall profits

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