Weekly Address: Ending Subsidies for Big Oil Companies

Your Daily Snapshot for
Saturday, March 17, 2012
Weekly Address: Ending Subsidies for Big Oil Companies

President Obama says that America needs an all-of-the-above energy strategy that invests in new technologies and ends the $4 billion in annual subsidies to oil companies that are earning historic profits.

Watch the President's weekly address:

President Barack Obama tapes the Weekly Address in in the Cross Hall Foyer of the White House, March 15, 2012. (Official White House Photo by Sonya N. Hebert)

Weekly Wrap Up

Your quick look at this week on WhiteHouse.gov:

No Quick Fix: Speaking from Prince George’s Community College in Largo, Maryland on Thursday, the President explained his all-of-the-above strategy to develop every available source of American-made energy. “We need an energy strategy for the future,” the President explained. “Yes, develop as much oil and gas as we can, but also develop wind power and solar power and biofuels.”

Rock-Solid Alliance: On Wednesday morning, President Obama – together with the First Lady, the Vice President and Dr. Biden – welcomed British Prime Minister David Cameron and Samantha Cameron to the White House during the Official Arrival Ceremony on the South Lawn. Later that evening, the Prime Minister and his wife were honored with a State Dinner, where they were joined by dignitaries from both countries. “In war and I peace, in times of plenty and times of hardship,” President Obama remarked, “we stand tall and proud and strong, together.”

Announcing a New Trade Case: After forming the Trade Enforcement Unit two weeks ago, President Obama announced on Wednesday that, “we’re bringing a new trade case against China – and we’re being joined by Japan and some of our European allies.” The effort is focused on expanding American manufacturers’ access to rare earth materials, which China currently supplies and, due to their policies, prevents the United States from obtaining.

Bracketology: Before the madness began, the President took time to fill out his brackets for the 2012 NCAA men and women’s basketball tournaments. While Kentucky, Ohio State and Mizzou made his Final Four, it’s the North Carolina Tar Heels who he selected as his national champion. On Monday night, the President headed to Dayton, Ohio with Prime Minister Cameron to catch some early round action in person.

West Wing Week: Your video guide to everything that's happening this week at 1600 Pennsylvania Avenue. Watch here.

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