WASHINGTON – It was a wish list, not a to-do list.
President Obama’s array of plans in his State of the Union speech was light on a key piece of context — namely, that his hands are so tied until after the election that it is doubtful many if any of them can be done in the remainder of his term. There can be little more than wishful thinking behind his call to end oil industry subsidies — something he could not get through a Democratic Congress, much less today’s divided Congress, much less in this election year.
night and how it fits with the facts and political realities of the day:
OBAMA: “We have subsidized oil companies for a century. That’s long enough. It’s time to end the taxpayer giveaways to an industry that’s rarely been more profitable, and double-down on a clean energy industry
that’s never been more promising.”
THE FACTS: This is at least Obama’s third run at stripping subsidies from the oil industry. Back when fellow Democrats formed the House and Senate majorities, he sought $36.5 billion in tax increases on oil and gas companies over the next decade, but Congress largely ignored the request. He called again to end such tax breaks in last year’s State of the Union speech. And he’s now doing it again, despite facing a wall of opposition from Republicans who want to spur domestic oil and gas production and oppose tax increases generally. FOX NEWS