By Julie Pace, Associated Press

MANCHESTER, N.H. (AP) — President Barack Obama, turning his political sights on snowy New Hampshire, demanded that Congress eliminate oil and gas company subsidies that he called an outrageous government “giveaway.”

WBZ NewsRadio 1030’s Bernice Corpuz reports.

Though politically a long shot, the White House believes the idea resonates at a time of high gasoline prices.

“Let’s put every single member of Congress on record: you can stand with oil companies or you can stand up for the American people,” Obama said in a visit to Nashua Community College Thursday afternoon.

Obama has repeatedly called for an end to about $4 billion in annual tax breaks and subsidies for oil and gas companies, government support that Obama has said is unwarranted at a time of burgeoning profits and rising domestic production.

“It’s outrageous. It’s inexcusable. I’m asking Congress: eliminate this oil industry giveaway right away,” he said.

It was Obama’s latest and most direct appeal to Congress to act on the tax breaks, and an administration official said the White House expects Congress to soon take up a measure ending some subsidies.

The official requested anonymity to avoid speaking publicly without authorization.

Republican presidential contenders and GOP leaders in Congress denounced the idea and called on Obama to take further steps to expand oil production in the United States.

Copyright 2012 The Associated Press.

Comments (3)
  1. Al Dorman says:

    NH for Ron Paul. Stop the wars, Obama.

  2. fred says:

    The subsidies help ensure a consistent supply. The tax on fuel, employee income and profits dwarf these subsidies. The subsidies are an investment that pays off unlike the subsidies and loans to all of these solar, wind, battery, and other so called green companies. Every week or so we have a story about a previously highly touted (and often connected) green company laying off workers, moving to China or declaring bankruptcy. The tax payers get nothing but increasing deficits from these so called investments. Obama has stated that he would like higher gas prices. At $ 4.00 to 5.00 per gallon people will be conserving. How much will that cost the federal and state coffers when revenue dramatically drops from decreased consumption. The state will then have to find other sources of tax revenue to make up for the shortfall. This guy has no understanding of economics at all. He is perhaps the most ignorant president in our history.

  3. Brandon Masterson says:

    I was at this event is there any chance i could have some picures forwarded to me?

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