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Obama: End Tax Breaks For Oil In Order To "Double Down" On Wind And Solar

"Instead of taxpayer giveaways to an industry that's never been more profitable, we should be using that money to double down on investments in clean energy technologies that have never been more promising. Investments in wind power, in solar power and biofuels. Investments in fuel-efficient cars and trucks and energy efficient homes and buildings. That's the future. That's the only way we're going to break this cycle of high gas prices that happen year after year after year as the economy is growing," President Obama said in the Rose Garden on Thursday.

"The only time you start seeing lower gas prices is when the economy is doing badly. That's not the kind of pattern that we want to be in. We want the economy doing well and people to be able to afford their energy costs," Obama added.

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