Obama calls for end to big oil's tax breaks

Thu Mar 29, 2012 3:06pm GMT

WASHINGTON, March 29 (Reuters) - U.S. President Barack Obama said on Thursday U.S. energy companies are raking in record profits and called for an end to tax subsidies for them.

Instead of rewarding oil companies, the United States should "double down" on clean energy, he said.

"Keep in mind, we can't just drill our way out of this problem," Obama said in remarks to reporters at the White House.

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