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By Patricia Zengerle
WASHINGTON, March 29 (Reuters) - U.S. President Barack Obama
challenged Congress on Thursday to repeal billions of dollars in
tax breaks for the biggest U.S. energy companies, saying they
are raking in record profits while Americans struggle with
higher gasoline prices.
"Today, members of Congress have a simple choice to make.
They can stand with big oil companies, or they can stand with
the American people," he said at an event in the White House
Rose Garden highlighting one of the hottest issues in the U.S.
presidential campaign.
"Last year, the three biggest U.S. oil companies took home
more than $80 billion in profit. Exxon ( ) pocketed nearly
$4.7 million every hour," Obama said.
Instead of rewarding oil companies, the United States should
"double down" on clean energy, Obama said in his speech.
"Keep in mind, we can't just drill our way out of this
problem," Obama said before a crowd of about 100 people,
including representatives of environmental groups and Americans
affected by the rising cost of gasoline.
The U.S. Senate was to vote on Thursday on legislation
backed by Democrats that would eliminate more than $24 billion
in tax deductions granted to big oil companies over the next
decade. The measure would also extend some tax breaks intended
to foster clean energy initiatives.
(Additional reporting by Caren Bohan and Samson Reiny; Editing
by Vicki Allen and Sandra Maler)
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