$6 Gas; what's your guess?

[plthijinx]

i found this quite interesting. from the houston chronicle...

In a letter to the top Democrats and Republicans in Congress, Obama said the “unwarranted tax breaks for the oil and gas industry” should be eliminated and replaced with investments “in clean energy to reduce our dependence on foreign oil.”

“There is no silver bullet to address rising gas prices in the short term,” Obama said. But he added that slashing “these wasteful subsidies” for oil and gas producers would help in the long term.

then:

“Gas hitting four dollars per gallon seems to have finally caused Speaker Boehner to see the light on the insanity of providing subsidies to profit-soaked big oil companies,” Schumer said. “At a time when we have a record deficit, it makes no sense to keep rewarding oil companies for socking it to consumers at the pump. These subsidies are a relic of a time when oil was $17 per barrel and oil companies needed incentives to drill.”