In his speech on April 30th, President Obama expressed his opposition to oil and gas company tax subsidies. He said,
I do have a problem with unwarranted taxpayer subsidies that we have been handing out to oil and gas companies…These tax giveaways aren’t right. They aren’t smart, and we need to end them.
With rising gas prices at the pump and the oil companies reporting record high profits, the President’s statement sounds reasonable and even laudable. But, as always, one needs to look more closely at the rhetoric to expose the hypocrisy of this Administration.