Oil Subsidies
4:36 pm
Wed April 4, 2012

McCaskill continues fight to end oil subsidies

Missouri Senator Claire McCaskill is renewing her call to end tax breaks for major US oil companies. Speaking at a gas station in downtown St. Louis Wednesday, the Democrat said the subsidies have done nothing to reduce gas prices across the country. 

"I do not think that what we give them now has resulted in any break at the pump," McCaskill said. "I think that is evidenced by the prices that we see around St. Louis and around Missouri in terms of gas prices."

A bill to end the subsidies failed in the Senate last week. 

McCaskill has been criticized by Republicans for seeking more taxes from oil companies at a time when gas prices are hovering near record highs. 

To bring down prices, McCaskill says she supports construction of the Keystone XL pipeline and releasing part of the US strategic oil reserve.

The average price of a gallon of regular gasoline in Missouri costs around $3.77 cents - about 14 cents lower than the national average.