Excerpt from the State of the Union 2012 – President Barack Obama on Big Oil subsidies & clean energy:

“We’ve subsidized oil companies for a century.  That’s long enough. It’s time to end the taxpayer giveaways to an industry that rarely has been more profitable, and double-down on a clean energy industry that never has been more promising.  Pass clean energy tax credits.  Create these jobs.

“We can also spur energy innovation with new incentives.  The differences in this chamber may be too deep right now to pass a comprehensive plan to fight climate change.  But there’s no reason why Congress shouldn’t at least set a clean energy standard that creates a market for innovation.  So far, you haven’t acted.  Well, tonight, I will.  I’m directing my administration to allow the development of clean energy on enough public land to power 3 million homes.  And I’m proud to announce that the Department of Defense, working with us, the world’s largest consumer of energy, will make one of the largest commitments to clean energy in history -– with the Navy purchasing enough capacity to power a quarter of a million homes a year.

“Of course, the easiest way to save money is to waste less energy.  So here’s a proposal:  Help manufacturers eliminate energy waste in their factories and give businesses incentives to upgrade their buildings.  Their energy bills will be $100 billion lower over the next decade, and America will have less pollution, more manufacturing, more jobs for construction workers who need them.  Send me a bill that creates these jobs.”

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Learn More:

• WhatTheFolly.com: Transcript: President Barack Obama’s 2012 State of the Union address
• WhatTheFolly.com: Transcript: GOP response to the President’s 2012 State of the Union address
• WhiteHouse.gov: 2012 State of the Union Address Enhanced Presentation
• WhiteHouse.gov: Blueprint for America Built to Last (PDF)