The White House has quickly capitalized on House Speaker John Boehner’s admission yesterday that oil companies should “pay their fair share in taxes” in response to high gas prices. President Obama sent a letter to the leaderships of both chambers of Congress today urging “you to take immediate action to eliminate unwarrranted tax breaks for the oil and gas industry, and to use those dollars to invest in clean energy to reduce our dependence on foreign oil.”
Obama notes: “I was heartened that Speaker Boehner yesterday expressed openness to eliminating these tax subsidies for the oil and gas industry.”
Of course, Obama’s plan to reduce gas prices by investing in clean energy is completely crazy. We’ve been subsidizing wind and solar power since the Carter administration and they still only account for just over 1% of all domestic energy production.
Hopefully the next time gas prices comes up Speaker Boehner will stick to detailing Obama’s war on offshore oil drilling.