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President Obama Calls On Congress to End Oil Subsidies [VIDEO]

President Obama Calls On Congress to End Oil Subsidies [VIDEO]

Speaking in the Rose Garden, the president laid out his argument for ending taxpayer subsidies to oil companies.  Noting their massive profits over $80 billion a year, President Barack Obama stated, “Today, members of Congress have a simple choice to make. They can stand with big oil companies, or they can stand with the American people.”

Watch the speech below:

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Photo credit: Youtube screen capture

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43 comments

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7:52PM PDT on Mar 31, 2012

Yes, the subsidies to big oil should go.

5:19PM PDT on Mar 31, 2012

OBAMA 2012!!!!

12:04AM PDT on Mar 31, 2012

Thanks for the article.

7:09PM PDT on Mar 30, 2012

Such a shame the stupidity and greed of the Party of NO, the PARTY OF HATE, won out in this situation. If Obama had been able to win, this 32 billion dollars could have gone to encouraging alternative energies as Obama had desired, something we desperately need, and will eventually wake up to, after the greedy oil companies have totally destroyed our precious environment.

Of course, this is no surprise as the Greedy Obstructionist Party makes it perfectly clear that they are masters at REDISTRIBUTING our hard earned tax monies to the super-rich and the mega corporations.

How can this possibly make sense to give away billions of dollars to companies that are making hundreds of billions of dollars??? I know, the stupid, greedy, GOP plays the fear card, saying that the oil companies won't "create" any jobs for us unless we give them billions of free dollars.

Fear and Hatred are the only things the Greedy Obstructionist Party is good at, and they use it every chance they get!

6:30PM PDT on Mar 30, 2012

We should stop subsidizing oil, nuke, religions, countries, TSA, Drug Warriors and everything else that can stand on its own or deserves to go. Despite all his faults, I have considered voting for Ron Paul, the only candidate that addresses these issues.

6:15PM PDT on Mar 30, 2012

It is about time that we end subsidies for the large money grubbing planet polluting oil companies. Too bad the bought and paid for Republicans will never allow it to happen. According to the Republicans people have to be responsible corporations do not. But since Citizen United passed the Supreme Court "corporations are people." And since the Republicans are trying to destory the sefety net for people Social Security, Medicare, Medicaid, Unemployment benefits, Pell Grants etc. They should be willing and able to cut the deficit by knocking out subsidies to oil companies making billions every quarter.

3:22PM PDT on Mar 30, 2012

About time. America 's 2nd biggest company which pays no tax. Why is it not a subsidy. While alternative energy industry struggle to find funding.

2:32PM PDT on Mar 30, 2012

Steve R.

So its pandering when Obama does the right thing by calling on Congress to end oil subsidies?

Why do you want to continue subsidizing Big Oil?

11:59AM PDT on Mar 30, 2012

Ah - I see he's pandering to the left today.

Yesterday it was "drill baby drill" to pander to the right. And I seem to remember something about the Keystone Pipeline as well?

Hmmm. Looks like liberal Democrats are being sold for 30 pieces of silver!

Of course, the oil companies have probably told him they'd be okay with losing the subsidies if they can go ahead and drill more.

And you all thought he was Honest Joe - instead of Flexy Lexy?

11:34AM PDT on Mar 30, 2012

Obama stops offshore drilling in the Atlantic for next five years:

http://abcnews.go.com/blogs/politics/2012/03/obama-oks-oil-exploration-along-atlantic-coast-but-not-drilling/

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