Weekly Address: "Instead of Subsidizing Yesterday's Energy Sources, We Need to Invest in Tomorrow's"
WASHINGTON – In his weekly address, President Obama laid out his plans to address rising gas prices over the short and the long term. While there is no silver bullet to bring down prices right away, there are a few things we can do. This week, the Attorney General launched a task force dedicated to rooting out fraud or manipulations in the oil markets. The President called for finally ending the $4 billion in taxpayer money that the oil and gas companies receive annually. And, we need to continue safe, responsible production of oil at home. But in the long term, we need to invest in clean, renewable energy. That is why the President strongly disagrees with a proposal in Congress that cuts our investments in clean energy by 70 percent. The audio of the address is and video of the address will be available online at www.whitehouse.gov at 6:00 a.m. ET, Saturday, April 23, 2011. Remarks of President Barack Obama Weekly Address on Gas Prices Saturday, April 23, 2011 Washingt...