Statement from the White House Press Secretary on S. 940 Re: Repeal of Oil Subsidies

Washington, D.C.–(ENEWSPF)–May 18, 2011.  

It is disappointing that at a time when oil companies are posting near record profits, Republican Leadership in the Senate led an effort to protect billions of dollars in tax breaks for the oil and gas industry that even oil and gas CEO’s in the past have admitted are unwarranted and unnecessary. The bottom line is that there are more responsible ways to spend tens of billions of federal dollars,…