Business
Gas prices update: Obama urges Congress to eliminate oil industry’s tax breaks
In the weekly Republican address, Rep. Cory Gardner, R-Colo., said his constituents have been hard hit by an increase in gas prices and were “fed up with the way the president is handling this issue, and rightfully so. The most forceful thing the president has done about high gas prices is try to explain that he’s against them.”
Gardner said the US$800 billion stimulus spending sought by Obama promoted energy companies that went bankrupt, wasting taxpayer money.
“After spending money we don’t have on what won’t work, and overregulating what would, is it any wonder gas prices have more than doubled on the president’s watch? Make no mistake, high gas prices are a symptom of his failed ‘stimulus’ policies,” Gardner said.
Obama is expected to keep up a drumbeat on energy this week, traveling to four states over two days to push his administration’s “all of the above” energy strategy. The trip includes stops in Nevada, New Mexico, Oklahoma and Ohio.
Copyright 2012 The Associated Press.
