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President Barack Obama said the Gulf of Mexico oil spill should send an urgent signal to Congress to complete work on energy legislation, including rolling back “billions of dollars in tax breaks” for oil companies and fostering investments in alternatives to fossil fuels.
“The catastrophe unfolding in the Gulf right now may prove to be the result of human error -- or corporations taking dangerous short cuts that compromise safety,” Obama said today in a speech at Carnegie Mellon University in Pittsburgh. “But we have to acknowledge that there are inherent risks to drilling four miles beneath the surface of the Earth.”
The spill began after an April 20 explosion aboard the Deepwater Horizon rig, which London-based BP Plc leases from Switzerland’s Transocean Ltd. The blast killed 11 and triggered leaks that, according to a government panel, spew an estimated 12,000 barrels to 19,000 barrels of oil a day into the ocean.
Obama said the nation needs an ‘unprecedented effort” to develop