Senate Democrats

Reid: End Handouts To Big Oil, Invest In Clean Energy To Spur Economy And Protect National Security

Washington, DCNevada Senator Harry Reid released the following statement in response to President Barack Obama’s letter urging Congressional leaders to end tax breaks for oil companies making record profits:

“I agree with the President that it is long past time to end wasteful subsidies to big oil companies that are raking in record profits. If Senate Republicans are serious about cutting spending, as Democrats are, they’ll stop filibustering our efforts to eliminate corporate welfare that even a former Shell Oil CEO said is unnecessary.

“Rather than giving handouts to big corporations, we should be investing in clean energy development and construction here at home to create jobs, diversify our economy, break our dangerous dependence on oil and make our nation safer. As a bipartisan delegation of senators saw first-hand, China and other countries are aggressively investing in this industry for exactly those reasons. Abundant solar, wind and geothermal resources in Nevada and across the country combined with American know-how give our country the ability to be the world leader in clean energy. We should not lose our edge in this global competition just so Republicans can give even more taxpayer money to companies that don’t need it.”