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Ending $4 billion in oil subsidies

Speaking in Nashua, New Hampshire today, President Obama asked all of us to contact our representatives in Congress and demand an end to $4 billion in big oil subsidies that taxpayers fund each year:

[Over] the long term, an all-of-the-above strategy requires the right incentives. And here’s one of the best examples. Right now, $4 billion of your tax dollars—$4 billion—subsidizes the oil industry every year.

Four billion dollars. Now, these companies are making record profits right now—tens of billions of dollars a year. Every time you go to the gas tank or fill up your gas tank, they’re making money. Every time. Now, does anyone really think that Congress should give them another $4 billion this year?

Of course not. It’s outrageous. It’s inexcusable. And I am asking Congress—eliminate this oil industry giveaway right away. I want them to vote on this in the next few weeks. Let’s put every single member of Congress on record: You can stand with the oil companies, or you can stand up for the American people. You can keep subsidizing a fossil fuel that’s been getting taxpayer dollars for a century, or you can place your bets on a clean-energy future.

So I’m asking everybody here today, anybody who is watching at home, let your member of Congress know where you stand. Will you do that?

Say you’ll stand with President Obama to end subsidies for big oil.

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