Post date: May 06, 2011 7:56:16 PM
U.S. President Barack Obama tells American workers that the U.S. needs to win the competition for breakthrough clean energy technologies, which will create new jobs. He also said that tax loopholes for big oil companies are costing consumers too much.
INDIANAPOLIS, INDIANA, UNITED STATES (MAY 6, 2011) - President Barack Obama said on Friday (May 6) that the United States needs to increase the manufacturing of clean energy technologies and close tax loopholes for big oil companies, which are sapping the spending power of Americans.
Obama praised auto plant workers at Allison Transmission in Indiana for the creation and manufacturing of clean energy products, and said new technologies will spur job creation and economic growth in the U.S. for years to come."I don't want the new breakthrough technologies and the new manufacturing taking place in China and India," Obama said. "I want all those new jobs right here in Indiana, right here in the United States of America, with American workers, American know-how, American ingenuity."
According to Obama, clean energy technologies will also wean Americans from foreign oil dependence.
"We've got high gas prices, that have been eating away at your paychecks, and that is a headwind that we've got to confront," Obama told workers.
Public anger over rising costs at the pump has put pressure on Obama to look for ways to provide quick relief for consumers as he seeks re-election in 2012. Opposition Republicans have sought to cast blame on the Democratic president for a surge in gas prices that is straining Americans' pocketbooks at a time of stubbornly high unemployment and sluggish economic recovery.
Obama wants Congress to roll back $4 billion in "unwarranted tax subsidies" enjoyed by increasingly profitable oil giants.
"If you're already paying them from the pump, we don't need to pay them from the tax code," said Obama as workers applauded.
Republicans, however, say that changing the tax code would amount to a tax increase on energy supplies, which would be counterproductive.
Global oil prices have surged in recent months on unrest in the Middle East and growing global demand for energy, but they fell steeply on Thursday to under $100 per barrel. The White House says the drop in prices ought be passed along to U.S. consumers in the form of lower gasoline prices.
After his speech, Obama toured the plant and talked to workers.
Allison Transmission is a leader in hybrid technology and the world's largest manufacturer of fully-automatic transmissions for medium- and heavy-duty commercial vehicles, tactical military vehicles and hybrid-propulsion systems.
The state of Indiana is a presidential battleground state that Obama won narrowly in 2008. The White House said election politics played no role in its selection for a visit.