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Obama: End Oil Subsidies, Finance Alternatives


Obama's Comments on Alternative Energy
President Obama called on Congress to eliminate taxpayer subsidies to oil companies in order to fund cleaner sources of energy.

"I’m asking Congress to eliminate the billions in taxpayer dollars we currently give to oil companies," Obama said in his State of the Union Address. "I don’t know if you’ve noticed, but they’re doing just fine on their own."

Other energy comments from the Address:

  • A Michigan roofing company transformed itself into a manufacturer of solar shingles.
  • The California Institute of Technology is developing transport fuel from water and sunlight.
  • The US could have 1 million electric vehicles on the road by 2015.
  • Issued a challenge to have, by 2035, 80% of US electricity come from 'clean' energy sources (He cited solar, wind, clean coal, nuclear and natural gas).



  • Subsidies - Stories, Links and Resources

    News from our recommended reading list
    about Subsidies

    Irrigation Subsidies Leading to More Water Use
    NYTimes.com - 2013-06-07

    Jordan Faces Protests After Gas-Price Proposal
    NYTimes.com - 2012-11-14

    Gore's Very Green Investments
    The Washington Post - 2012-10-11

    Deficit Reduction Driving Farm Bill and Ag Program Discussions
    Southwest Farm Press - 2012-02-18

    A Gold Rush of Subsidies in Clean Energy Search
    NYTimes.com - 2011-11-12

    Obama Urges End to ‘Unwarranted’ Oil, Natural Gas Tax Breaks
    Bloomberg - 2011-04-26

    Oil industry girds for clash over its tax breaks
    Houston Chronicle - 2011-02-14

    Oil Subsidies Obama Wants to Cut
    Grist.org - 2011-01-27

    Subsidies
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    Obama: End Oil Subsidies, Finance Alternatives

    Chu Calls for Research on New Energy Sources

    E-Cars' Impact Assessed In Hundreds of Billions of Dollars

    Solar-Powered Water Purifier Can Clean 6,500 Gallons a Day

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    Links for the search term: Subsidies

    Climate Progress Critique of Oil Company Tax Breaks
    Pointing out that ExxonMobil paid 14% or less in corporate taxes in recent years, the article describes four types of tax breaks: the depletion allowance; the domestic manufacturing tax deduction; the foreign tax credit; and the expensing of intangible costs.

    Economic Impacts of Drought on Energy and Food

    GOP senators save a tax break for Big Oil | Energy | Chron.com - Houston Chronicle

    Eliminating tax subsidies for oil companies « Climate Progress