This is pretty big news and didn't look likely a week or two ago, adding a bit of optimism to this discussion from yesterday. Pres. Obama wants to work towards ending fossil-fuel subsidies globally. There's little reason oil companies should continue to be subsidized when they already make enormous profits. There's little change to so-called "energy security" except for the better since the US depends overwhelmingly on foreign-based oil. And it's a move towards reducing consumption of fossil fuels, thus reducing air pollution and carbon dioxide emissions leading to global warming. Furthermore, it puts renewable energy technology development in a position to compete in the marketplace with giant fossil fuel companies.
If you're against the Muslim socialist revolution Obama is bringing to America, you should be all for this proposal since it subjects fossil fuel production and use to market forces rather than government support while decreasing dependence on Middle East oil. Right?