US President ,Barack Obama, has urged the Congress to kill tax breaks for the oil and gas industry and help develop alternative sources of energy. The President has reportedly announced in his address that he expected Congress to consider in the next few weeks ending $4 billion in tax subsidies, a move he has failed to persuade lawmakers to make during his term.Industry officials and many Republicans in Congress are reported to have the view that cutting the tax breaks would lead to higher fuel prices, raising costs on oil companies and affecting their investments in exploration and production.
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