"When he releases his new budget in two weeks, President Obama will propose doing away with roughly $4 billion a year in subsidies and tax breaks for oil companies, in his third effort to eliminate federal support for an industry that remains hugely profitable."

John M. Broder reports for the New York Times January 31, 2011. [2]

SEE ALSO:

"Exxon’s Profit Rises in Quarter, Helped by Higher Oil Prices" (New York Times)
[3]
"Attacks on EPA Misrepresent Regulations' Effects on Economy" (San Francisco Chonicle)
[4]
"U.S. Pushes, but Reactors Are Lagging" (New York Times)
[5]
"India Solar Rules Burn U.S." (Wall St. Journal) [6]

"What Obama Should Know About Ending Oil Subsidies" (Grist) [7]

"Coal Fights for Its Share of the New Energy Market" (Philadelphia Inquirer) [8]

"Heavily Subsidized Georgia Ethanol Plant Closes" (Atlanta Journal-Constitution) [9]