Wondering where the money would come from to? According to the plan ( .pdf link here), "The rebates would be fully paid for with five years of a windfall profits tax on record oil company profits." The report further says that Obama recognizes that the oil companies are being well managed, but that much of their record profits are coming solely due to the rising cost of oil. Similar windfall taxes are apparently being considered in the U.K.
[Source: Associated Press via Yahoo News]