$4 Billion in tax breaks to oil and gas industry

Aw, poor gas guys. Obama wants to end their $4 billion in tax breaks.

Obama to Congress: End ‘unwarranted tax breaks’ for oil companies

President Obama urged Congress on Tuesday to take “immediate action” to end tax subsidies for oil and gas companies, as he attempts to limit the political fallout of surging gas prices.

A day before oil firms are set to begin reporting potentially record profits, Obama called on congressional leaders in both parties to roll back more than $4 billion “in unwarranted tax breaks,” saying the money would be better spent on new technology that would reduce the cost of fueling the nation.

How much did you pay for gas today?

About Sharon Wilson

Sharon Wilson is considered a leading citizen expert on the impacts of shale oil and gas extraction. She is the go-to person whether it’s top EPA officials from D.C., national and international news networks, or residents facing the shock of eminent domain and the devastating environmental effects of natural gas development in their backyards.

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