Us Budget: Obama backs renewable energy
Republican budget proposal that calls for steep cuts in Obama's energy programmes.
WASHINGTON:
Taking issue with a Republican budget proposal that calls for steep cuts in energy programmes, President Barack Obama has said that higher gas prices require investments in renewable energy.
In his weekly address, Obama also called again for an end to the $4 billion in tax breaks the oil and gas industry receives each year. “Instead of subsidising yesterday’s energy sources, we need to invest in tomorrow’s,” he said. “We need to invest in clean, renewable energy. In the long term, that is the answer.”
The Republican budget plan, aimed at dramatically reducing the country’s $14 trillion deficit, calls for steep cuts in transportation and energy, including slashing by 70 per cent a Department of Energy loan guarantee programme that supports renewable energy projects, such as wind farms and solar installations.
Published in The Express Tribune, April 24th, 2011.
Taking issue with a Republican budget proposal that calls for steep cuts in energy programmes, President Barack Obama has said that higher gas prices require investments in renewable energy.
In his weekly address, Obama also called again for an end to the $4 billion in tax breaks the oil and gas industry receives each year. “Instead of subsidising yesterday’s energy sources, we need to invest in tomorrow’s,” he said. “We need to invest in clean, renewable energy. In the long term, that is the answer.”
The Republican budget plan, aimed at dramatically reducing the country’s $14 trillion deficit, calls for steep cuts in transportation and energy, including slashing by 70 per cent a Department of Energy loan guarantee programme that supports renewable energy projects, such as wind farms and solar installations.
Published in The Express Tribune, April 24th, 2011.