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Obama keeps up push to end gas, oil tax breaks

 


WASHINGTON — President Barack Obama says oil companies are profiting from rising pump prices and he wants Congress to end $4 billion in annual tax breaks for the oil and gas industry.

"These tax giveaways aren't right," Obama said in his weekly radio and Internet address Saturday. "They aren't smart. And we need to end them."

Drivers in 22 states are paying more than the national average of $3.91 per gallon. In Alaska, California and Connecticut, it's $4.20 or more.

The price jump has slowed economic growth and hurt Obama's public approval ratings.

Exxon Mobil Corp. this week reported...



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