Earth Track

Obama’s Bid to End Oil Subsidies Revives Debate

When he releases his new budget in two weeks, President Obama will propose doing away with roughly $4 billion a year in subsidies and tax breaks for oil companies, in his third effort to eliminate federal support for an industry that remains hugely profitable.  Previous efforts have run up against bipartisan opposition in Congress and heavy lobbying from producers of oil, natural gas and coal.

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