Obama's Historic Call to "End Oil Subsidies"
Talking to an environmentalist friend this week, it seems many may have missed the President's historic call, during his State of the Union address, Jan. 24, 2012, to "end oil subsidies" (video below). So here's a breakdown of the roughly six minute focus from that speech on "proving we don't have to choose between our environment and our economy" and ending subsidization of America's wealthiest industry.1
The slides below were produced by the White House as part of a newly launched, "enhanced" YouTube format for government video/media. Click images to enlarge.
Obama's profit slide tells a powerful story.
Bipartisan support for developing "every available source of American energy."
Mixed support for "ending oil subsidies."
26:00 - Expand incentives for innovation & business development
27:30 - American made energy
27:50 - Obama opening +75% of domestic Oil & Gas drilling
28:00 - American Oil production highest in 8 years, and …
28:30 - Oil isn't enough, "We need to develop every available source of American energy"
28:50 - We have enough (shale) Natural Gas for nearly 100 years
29:25 - America will develop NG w/o putting Citizens at risk
29:45 - Gov support is critical in helping new energy get off the ground
30:15 - Obama's investments have nearly 2x'd renewable energy use & jobs last 3 years
31:20 - "I will not walk away from the promise of Clean Energy"
31:53 - "We've subsidized Oil companies for a century, that's long enough"
32:20 - We can spur new energy innovations with new incentives
32:45 - Obama allowing clean energy development on public lands
33:05 - Dept. of Defense making a huge commitment to clean energy
33:30 - On energy efficiency, Congress should promote $100B for business savings next 10 years
34:00 - Building new energy just one part of repairing American infrastructure
35:14 - Do some nation building, right here at home
White House's "Enhanced" video here.###1More on Oil & Gas wealth:
From a global perspective.
From US/domestic perspective.
Recent profits for ExxonMobil and ConoccoPhillips.
10 year profits for the top five suppliers to the US market.###More of my blogs: http://chrissearles.blogspot.com/