Obama Proposes Cuts to Fossil Fuel

This probably won’t appease the Republicans: President Obama is going to propose offsetting a push for clean-energy research by cutting subsidies for fossil fuels. Energy Secretary Steven Chu previewed a Department of Energy budget that would do away with tax breaks for oil companies and preferences for fossil fuels, saving $3.6 billion next year and $46.2 billion over the next 10. It would also cut corporate Department of Energy management pay by 13 percent and shut down two research facilities. The cuts are intended to offset a proposed $8 billion push for clean energy.