President Obama calls for ending $41 Billion in Big Oil Subsidies

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Environment Connecticut Research & Policy Center

WASHINGTON, D.C – President Obama’s deficit reduction plan includes ending $41 billion in subsidies to Big Oil, including their ability write off drilling costs or to claim domestic manufacturing deductions. John Cross, Federal Transportation Advocate with Environment America, issued the following response:

 “Big Oil has been profiting from pollution for too long. Producing, refining and burning oil is a dirty business.  It spoils our nation’s waterways with disastrous spills and poisons the air our families breathe. We support President Obama’s call to cut outrageous subsidies to Big Oil.

 “This summer, Exxon was responsible for spilling 42,000 gallons of oil into the Yellowstone River, a source of beauty and inspiration for the entire country. Last summer, BP’s rig explosion caused the worst oil spill in our nation’s history.

 “It’s about time we take steps toward getting off oil.  President Obama has also proposed new clean car standards which will cut our oil dependence and drive the innovation that will create hundreds of thousands of manufacturing jobs building cars that run on little to no gasoline.  Congress should support cutting subsidies to Big Oil and President Obama’s proposed clean car standards to put our children’s health and our environment before polluter profits and get our country off oil.”