LARRY KUDLOW: WHITE HOUSE BASHING BIG OIL? IS BIG OIL OBAMA'S SCAPEGOAT?

At a time of skyrocketing gas prices and near-record profits for oil companies, House Speaker John Boehner made a major concession today: Congress should consider cutting multi-billion dollar subsidies to oil companies. "Everybody wants to go after the oil companies and, frankly, they've got some part of this to blame," the Ohio Republican told ABC News today. Blame aside, what about the cold, hard cash -- the billions of dollars in tax breaks and other subsidies big oil receives every year? President Obama has proposed doing away with many of them, which he says would save $45 billion over the next 10 years.

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News & Politics

Tags:

• oil
• gas
• scapegoat
• obama