11 Aug: Energy - as symbolized by gasoline prices - will be a major factor in the November elections. In 2004, when gasoline prices were about half of what they are today (Gas prices peek above $2 a gallon), the Bureau of Labor Statistics reported that transportation was the number two expenditure for the average American (18% disposable income, compared to 32% on housing).
Learn how Sen. John McCain (R-AZ) and Sen. Barack Obama (D-IL), the presumptive presidential nominees for their respective parties, approach energy policy. Note: Congress would have to endorse the policies for them to become a reality.
Arctic National Wildlife Refuge
Both candidates oppose drilling in ANWRSee The Benefits of ANWR & the Case for Offshore Drilling in Alaska (US Conservatives), Senate Republicans Tie ANWR Oil Drilling to Budget Bill (Environment), Gone But Not Forgotten: Energy, Oil and Alaska (USP)
CAFE Standards
Obama proposes doubling fuel economy standards within 18 years at a cost of $4 billion in subsidies to the auto industry for retooling.Total fleet fuel economy peaked in 1987 at 26.2 mpg. In 1975, when Congress established CAFE standards, cars averaged 13.5 mpg and trucks averaged 11.6 mpg.
See CAFE (Fuel Efficiency) Standards for Passenger Cars and Light Trucks (USP), What Are CAFE Standards (Alternative Fuels), New U.S. Fuel Economy Standards Too Weak to be Effective (Environment), How is a gas tax better than just improving emissions standards? (US Economy)
Coal
McCain has pledged to invest $2 billion annually "make clean coal a reality."Gas Tax
McCain called for suspending the gas tax during the summer. Why this is a bad idea.Obama, on the other hand, rejects any reduction.
See Voting Pocketbook Issues: The Gas Tax
Biofuels
Obama proposes "investing $150 billion over 10 years to advance the next generation of biofuels, accelerate the commercialization of plug-in hybrids and promote development of commercial-scale renewable energy."Global Warming
McCain advocates mandatory greenhouse gas emission reduction targets, including offsets and a market in emissions permits.Obama is proposing a cap-and-trade policy that will "require all pollution credits to be auctioned."
Nuclear Power
McCain is calling for us to expand our nuclear power capacity. Currently, about 20 percent of our electricity is supplied by nuclear facilities; McCain wants us to build 45 new reactors by 2030.Offshore Oil Drilling
McCain supports lifting the federal moratorium and letting individual states decide. This is a reversal of his position in the 2000 presidential race.In August, Obama also stated support for lifting the ban if it were part of a larger energy package that he endorsed. In June, he had said, "I intend to keep in place the moratorium ... that prevents oil companies from drilling off Florida's coasts."
From NPR: "The Department of Energy says there may be 18 billion barrels of oil in coastal waters, but they also say that drilling for it would not have a significant impact on production or prices until 2030."
Also, see Why Lifting The Offshore Oil Ban Won't Help Gas Prices and Oil Politics, At Home and Abroad (In Iraq)
Windfall Profits Tax
Obama proposes a windfall profits tax on "excessive" oil company profits; the tax money would be used "to give American families an immediate $1,000 emergency energy rebate."From Around About
- About The Price At The Pump - October 2006 - US Politics
- Americans Trust Democrats More on Top Issues, But Trust Slips on Security - US Liberals
- Compare the Leading Presidential Candidate's Proposals to End High Gas Prices - US Economy
- Energy Policy Cartoon - Political Humor
- Pickens To Invest $58 Million In Campaign For Wind Power - US Politics
- Oil, Coal, Nuclear Power are Cornerstones of McCain Energy Plan - Environment
- Voting Pocketbook Issues: The Gas Tax - US Politics
- Where The Candidates Stand On Off-Shore Oil Drilling - Environment
- Why Oil and Gas Prices Are So High: Don't Blame OPEC - Middle East
