Obama budget would slash oil tax breaks while boosting renewables

By Jennifer Dlouhy, FuelFix.com.

President Barack Obama is proposing billions of dollars in government spending to tackle climate change and boost alternative energy sources, even as he makes another plea for Congress to spike tens of billions of dollars in oil and gas industry tax breaks.

The climate ventures include a program to boost the resiliency of coastal communities that could be battered by more intense storms and a $4 billion fund to encourage states to cut greenhouse gas emissions more quickly than federal regulations require.