I will tell you with $55 oil we don’t need incentives to oil and gas companies to explore. There are plenty of incentives.
It was Bush who said that in 2005, yet with oil at nearly twice that price, and with oil companies making record profits Bush still refuses to cut subsidies. Instead he has played lip service to clean technology while slashing millions from renewable energy programs. A man of his word indeed!
(h/t Climate Progress)