In his 2011 budget, President Obama proposed ending oil, gas subsidies.

[ProSense]

Obama budget seeks to end oil, gas subsidies

(Reuters) - The Obama administration on Monday asked Congress for a second time to end some $36.5 billion in subsidies for oil and gas companies, saying it would help fight global warming.

In its proposed budget for the government's 2011 spending year that starts October 1, the administration said eliminating the subsidies would "foster the clean energy economy of the future and reduce our reliance on fossil fuels that contribute to climate change."

The industry tax breaks that would be lost include: deductions for certain drilling costs, tax credits for low-volume oil and gas wells and a manufacturing tax deduction for oil and gas companies.

"We will not continue costly tax cuts for oil companies," President Obama said.

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[Dappleganger]

1. End corporate welfare, period.

Including the wars.

[w4rma]

2. Very good. (nt)

[jpak]

3. The corporatist Obama strikes again

dastardly business

harrumph!

[ProSense]

4. Evidently, this is a bad idea. n/t

[uponit7771]

5. Buh...buh....but....Obama is a corporatist pony!!!

[Radical Activist]

9. Only a true DLC sell out would stand up to the most powerful corporate interest in the world!

[RoccoR5955]

6. Not only should he not end subsidies,

but he should demand retroactive repayment of subsidies for the last 10 or so years!

[Radical Activist]

8. That would kick ass. n/t

[Radical Activist]

7. What about coal subsidies?

They need to be cut too if we're going to promote clean energy.

[AtomicKitten]

10. Hopefully he can get this through Congress. nt

[tranche]

11. Not enough for DU purists who believe 300 million people can run on vegetable oil and bong water.

This is a HUGE step forward, but you wouldn't know it by reading this site.

[Tarheel_Dem]

12. "300 million people can run on vegetable oil and bong water".

"bong water"? :spray:

Dude you owe me a keyboard. :rofl:

[Clio the Leo]

13. Kick. NT