U.S. President Barack Obama says it is time to end the $4 billion subsidies for oil and gas companies and invest in energy independence for the United States.
During his weekly address Saturday, Obama said investing in clean renewable energy sources is one way to combat rising gas prices straining family budgets. He said he disagrees with a congressional proposal that cuts investments in clean energy by 70 percent to lower the deficit.
Obama also called for the United States to continue safe, responsible domestic oil production.
He said the U.S. attorney general has launched a task force to root out fraud and manipulation of oil markets.
The president said the United States can live within its means without sacrificing investments in energy, education, and job creation now and into the future.
In the Republican weekly address, Senator Mike Johanns said Obama administration policies have burdened the primary job creator, small businesses.
Johanns said a leaner, more efficient government best supports the country and people looking for work.
Some information for this report was provided by AP, AFP and Reuters.
