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Jun 2, 2010 12:31 PM by Melissa Canone

Time To Roll Back "Billions Of Dollars In Tax Breaks" For Oil Companies

WASHINGTON (AP) - President Barack Obama says it's time to roll
back "billions of dollars in tax breaks" for oil companies and
use the money for clean energy research and development.
Obama made the comments Wednesday in prepared remarks for a
speech at Carnegie Mellon University in Pittsburgh.
He said the catastrophic Gulf oil spill shows the country must
move toward clean energy by embracing energy efficiency, tapping
natural gas and nuclear power and eliminating tax breaks for big
oil.
Obama said that the Gulf spill "may prove to be a result of
human error - or corporations taking dangerous shortcuts that
compromised safety" - but that deepwater drilling is inherently
risky and America cannot rely solely on fossil fuels.

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