Obama’s Weekly Address Calls For More Domestic Oil Production

Posted on May 16th, 2011 by

Obama’s Weekly Address Calls For More Domestic Oil Production

President Obama, in his weekly address, discussed steps his Administration is taking to curb American concern about rising gas prices. He first discussed the development of a task force, led by Attorney General Eric Holder, that will be responsible for rooting out cases of fraud or manipulation in the gas markets that might impact prices, including any suspicious or illegal activity by traders and speculators. He also outlined plans to have Department of Interior begin conducting annual lease sales in Alaska’s National Petroleum Reserve, and speed up their evaluation of oil and gas resources in the mid and south Atlantic and the Gulf of Mexico. Finally, President Obama discussed the importance of  eliminating taxpayer subsidies for oil and gas companies.  The biggest oil companies have recently reported profits of around $4 billion and yet, they receive $4 billion in taxpayer subsidies each year.

New  Study Shows How Gas Prices Will Affect Summer Travel

TripAdvisor®, has announced the results of its annual summer travel survey which showed that 39% of the more than 2,000 people surveyed say that increasing fuel costs will affect their travel plans this summer. Because of the rising gas prices, 18% plan to take less car trips, 12% are going to be mindful about the length of the trip and 5% have made plans to not travel at all this summer. 26% predict gas will reach $5.00 per gallon, and 20% surveyed say that they will avoid road trips all together if prices exceed $5 per gallon.

New Mexico Green Chamber of Commerce Partners with SunPower to Offer Rebates on Residential and Commercial Solar Systems

The New Mexico Green Chamber of Commerce (NMGCC) has partnered with SunPower Corp. (NASDAQ: SPWRA, SPWRB) to offer rebates to all regular chamber members on purchases of new SunPower solar systems for their homes and businesses. In addition to the discounts on high-efficiency SunPower solar systems, the company will offer free, comprehensive solar workshops, including information on available state and local financial incentives, via its authorized dealers, NMGCC members Positive Energy and Consolidated Solar Technologies. These workshops will be scheduled throughout the summer months in the Albuquerque, Santa Fe and Las Cruces areas. The program offers residential customers rebates up to $2,000 in addition to any federal and local incentives and up to$10,000 for commercial solar projects.

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