Thursday, May 26, 2011

Obama: Oil and gas subsidies no sense

Thursday, May 26, 2011

(WASHINGTON, May 14, UPI) - US - President Barack Obama demanded Saturday an end that $4 billion in annual subsidies to the oil industry, said they are not fair and not make sense.

"In the last months the largest oil companies made $4 billion in profits every week." And yet, they have $4 billion in taxpayer subsidies every year. 4 Billion dollars at a time when Americans to fill their tanks hardly. "Four billion dollars at a time when we try to reduce our deficit, said Obama in his weekly radio and Internet address, outlining steps that takes place his Government curb the rising cost of gasoline."

"It is not fair, it makes no sense." Before I was President, the CEOs of these companies also acknowledged that the tax subsidies made no sense. Now, next week, it a vote in Congress this oil company of giveaways a for once stop. And I hope that Democrats and Republicans come together and get this done.

"The American people should be not oil companies subsidies at a time when she make profits in the next record." As a nation, we should be in the clean, invested in renewable energy sources, which are the ultimate solution for high gas prices. The is why we are investing in clean energy technology, help companies, the production of solar cells and wind turbines, and to ensure that our cars and trucks on a container of Gases--a step further can, the families could save as much as $3,000 at the gas pump. "

The President announced the formation of a task force, led by Attorney General Eric holder, with the express purpose rooting out fraud and market manipulation. He led also to the "safe and responsible" domestic oil production, including leasing annual sales in Alaska National Petroleum Reserve, the acceleration of the offshore oil and gas exploration in the Central and Southern Atlantic Ocean and the extension of all leases in the Gulf of Mexico of last year's deepwater horizon oil spill affected.

A senior administration of official, speaking on condition of anonymity, said Friday the plans of the Government to speed up the environmental assessment in the Gulf of Mexico lease to facilitate sales in the Western and Central Gulf by mid 2012. The official said leases in Alaska Orlik for potential activity that happened in the last year "to ensure companies not by, that are corrupted", add the Government is "tailor-made" lease conditions and the introduction of fee structures to early development to promote and further incentives already rented lands access to Castle.

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