GOP Counters Obama's 'Smoke and Mirrors' on Gas Prices, Taxes

Saying he wants oil companies to "succeed," President Obama on Thursday renewed his attack on the industry and again called for an elimination of its "taxpayer subsidies."

"Right now, the biggest oil companies are raking in record profits -- profits that go up every time folks like these pull into a gas station. But on top of these record profits, oil companies are also getting billions a year in taxpayer subsidies -- a subsidy theyve enjoyed year after year for the last century," Obama said in the White House Rose Garden.

But, the president added, "We want our oil companies to succeed. Thats why, under my administration, weve opened up millions of acres of federal lands and waters to oil and gas production.Weve quadrupled the number of operating oil rigs to a record high. Weve added enough oil and gas pipeline to circle the Earth and then some.

"And just yesterday, we announced the next step for potential new oil and gas exploration in the Atlantic."

Turing to renewable energy sources, Obama then stated:

"Instead of taxpayer giveaways to an industry thats never been more profitable, we should be using that money to double-down on investments in clean energy technologies that have never been more promising."

The president's spiel didn't hold water with Republicans, who called it "more smoke and mirrors."

President Obama will say and do anything it takes to get re-elected, even if it means doing a Rose Garden photo-op to pretend increasing energy taxes will lower gas prices," said Republican National Committee spokesman Matt Connelly.

"This is just more smoke and mirrors from a president who doesnt have an energy policy while Americans struggle to pay higher gas prices at the pump," Connelly said.