03 May '11, 9am

Pressure Builds to End $4 Billion in Taxpayer Subsidies for Oil Companies

President Obama made it clear that he has no problem with profitability. After all, profitability clears the way for future investments — but that is precisely the problem when it comes to the U.S. oil industry. Aside from significant environmental and public health issues , the continued development of oil resources has become a national defense liability . Transitioning out of petroleum fuels – both foreign and domestic – has become a top priority for the Department of Defense. In the context of national security, taxpayer support for the oil industry is alarmingly counterproductive. Conversely, investment in clean energy is a national security investment, just as taxpayers support weapons programs, training, emergency preparedness and other needs related to national defense and public safety.

Full article: http://www.triplepundit.com/2011/05/pressure-builds-4-bil...

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