Late budget proposal will again raid the oil and gas industry

President Barack Obama is late this year with his proposal for the federal budget but made clear Mar. 15 it will contain the same raids on the oil and gas industry as its predecessors. The assurance came in a White House fact sheet accompanying a speech that promised the same costly energy prescriptions Obama has pushed throughout his presidency. At the Argonne National Laboratory in Illinois, the president hailed energy research as a way to “shift our cars and trucks off oil” and called for spending on the effort of $2 billion over 10 years. According to the fact sheet, funding would come from offshore oil and gas royalties with “additional revenues potentially generated as a result of r...

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