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Re: McCain and Obama on Energy
Where the candidates stand
Republican presidential candidate Sen. John McCain has proposed a $300 million government-funded prize for the inventor who could produce a car battery '” one that would reduce electric vehicle costs by 70 percent.
McCain also said that he would offer a $5,000 dollar tax credit for every customer who buys a car that doesn't emit carbon dioxide.
The candidate has also pledged to eliminate mandates, subsidies, and tariffs that exclusively benefit producers of corn-based ethanol.
This would include the 54 cents-per-gallon tax on imported ethanol.
In 2006, Obama argued that the U.S. tariff on imported ethanol must be kept in place in order to protect "home-grown renewable fuels" from foreign competition.
McCain has proposed a temporary halt in the federal excise tax on gasoline during summer driving months, an idea Obama ridiculed.
Expressing concern over the environmental effect of greenhouse gas emissions, McCain is also encouraging the building of 45 new nuclear power plants '” an energy alternative without greenhouse gas emissions.
McCain has also said he would persuade Congress to end the current moratorium on oil and natural gas drilling in the Outer Continental Shelf.
In 1995 and 2005, McCain voted to open part of Alaska's Arctic National Wildlife Refuge (ANWR) to oil drilling.
But prior to the 2005 vote, McCain denounced Sen. Ted Stevens, R-Alaska, for attaching the ANWR drilling provision to a Pentagon spending bill, calling it 'disgusting' and 'disgraceful' for the Alaska senator to add an unrelated and contentious measure to a bill with money needed for troops overseas.
As it turned out, Stevens failed to get the 60 votes he needed and ANWR drilling was blocked.
McCain's opponent, Democratic Sen. Barack Obama, until recently opposed additional offshore drilling, arguing that it would take at least five years for the move to lower gasoline prices.
But in a significant change of position, Obama on Aug. 1 said he would be willing to support limited additional offshore drilling.
He said he would make this compromise if it were necessary to get enough votes in Congress to pass a comprehensive plan to encourage fuel-efficient vehicles and develop alternative energy sources.
"My interest is in making sure we've got the kind of comprehensive energy policy that can bring down gas prices," Obama said in an interview with The Palm Beach Post.
"If, in order to get that passed, we have to compromise in terms of a careful, well thought-out drilling strategy that was carefully circumscribed to avoid significant environmental damage '” I don't want to be so rigid that we can't get something done."
Both McCain and Obama support legislation to force American companies to reduce emissions of carbon dioxide and other greenhouse gases.
Obama has said that the 2005 energy bill for which he voted "contained irresponsible tax breaks for oil companies that I consistently opposed, and that I will repeal as president.
"But the tax credits in that bill contributed to wind power growing 45 percent last year, the sharpest rise in decades," he continued.
"If John McCain had his way, those tax credits wouldn't exist."
McCain voted against that bill.
Obama has said that he would provide $150 billion in subsidies over ten years to companies that produce wind power, solar power, and bio-fuels.
The Democrat has also said he would seek to impose a new tax on energy companies' "windfall profits" and would send $500 to individuals and $1,000 to married couples to help with gasoline and home heating costs.
In 2006, Obama introduced a bill to allow the federal government to pay part of American automakers' retiree health care costs. In exchange, the companies would invest in building more fuel-efficient cars.
Unanswered questions
If Congress enacts a law to limit emissions of carbon dioxide, as desired by both McCain and Obama, how will American energy companies and manufacturers cope with its requirements? Will additional costs be passed on to consumers?
Neither Obama nor McCain has fully addressed how such a complex bill would be administered.
A version of that greenhouse gas legislation, which the Senate debated but did not pass last month, is almost certain to be brought up for reconsideration next year.
That bill would set up a Technology Development Fund which will have more than $500 billion at its disposal over 20 years '” money collected from carbon dioxide emitters.
How will that fund '” perhaps the most powerful federal agency created in many decades '” parcel out the money? Which "clean technology" firms will it subsidize?
Another uncertainty is technological innovation itself.
For instance, how quickly will major automobile manufacturers develop an electric car that middle-class Americans can afford?
Will innovators be able to respond to McCain's $300 million battery prize?
As for Obama's goal of helping to put one million plug-in electric vehicles on the market by 2015, questions remain. Will consumers choose to buy them? What will be the price and the dependability of such vehicles?
Full article... http://www.msnbc.msn.com/id/25664638/
Re: McCain and Obama on Energy
I don't agree with Obama's idea of giving tax credits to people for gas. 500 per person and 1000 for a married couple, i just don't agree with it.
He's got some good ideas with moving to wind and solar, but not as much bio-fuels, since that tends to tie up some of our food production, which with rising costs of food, isn't such a good idea. Do people really want to see massive ethanol production? I hope those same people don't mind spending a very significant ammount more on anything with corn in it.
McCain here seems to have some good answers though. Instead of just focussing on lowering gas prices, he is actually looking for alternatives, or some could say, 'change.' I for one fully agree with moving away from gasoline dependent cars and into something that uses a cleaner, and cheaper fuel. Take the hydrogen cell for example.
I also agree with the 5000 dollar tax credit for anyone who owns a car with no carbon emissions. That would promote the cars being bought, and then with less of a demand for gas, the gas prices would fall, and then everything else would follow suit.
A lot of predictions say that our gas supply could run out by 2050. So moving away from our dependence on it is a very good idea.
Also, oil drilling tends to have a bell shape with how much they get out. it increases very quickly and is very easy to get out, until it gets past the top of the bell, then it is a lot harder to get out. I believe for some they use 1 gallon to get 2 gallons. So offshore drilling is really just a short term solution.
Re: McCain and Obama on Energy
"windfall profits"
Oh man. Will probably go down as the biggest loophole in history. All the oil companies have to do is tweak the numbers and there profits don't fall under "windfall". When that happens, ALL the money for these programs are piled into the deficit.
Guess where the money eventually comes from? Your wallet. Not the evil rich with their "windfall" profits, but your wallet.
I like how they think we're stupid.
In 2006, Obama argued that the U.S. tariff on imported ethanol must be kept in place in order to protect "home-grown renewable fuels" from foreign competition.
Yeah, lets starve the whole world so I can save about 2 cents on a gallon of gas.
McCain has proposed a temporary halt in the federal excise tax on gasoline during summer driving months, an idea Obama ridiculed.
Expressing concern over the environmental effect of greenhouse gas emissions, McCain is also encouraging the building of 45 new nuclear power plants '” an energy alternative without greenhouse gas emissions.
McCain has also said he would persuade Congress to end the current moratorium on oil and natural gas drilling in the Outer Continental Shelf.
In 1995 and 2005, McCain voted to open part of Alaska's Arctic National Wildlife Refuge (ANWR) to oil drilling.
Thats what you call a plan.
McCain's opponent, Democratic Sen. Barack Obama, until recently opposed additional offshore drilling, arguing that it would take at least five years for the move to lower gasoline prices.
But in a significant change of position, Obama on Aug. 1 said he would be willing to support limited additional offshore drilling.
Of course you support it now that its popular and the public agrees with McCain. You'll just go back on your word once elected though because you never supported it until the public started seeing it was necessary.
There are weaknesses in both their plans and I would love both to elaborate during the debates. However, its obvious which candidate has the superior energy plan.
Great thread. Actual issues can be discussed.
Re: McCain and Obama on Energy
The problem with Obama's windfall profits idea, is there's NO WAY to enforce.
On paper, it's truely a beautiful idea. But in reality, it's one of those dreams that just REMAINS on paper.
What's he gonna do? The windfall thing, then tell gas companies you also can't go up on gas? Or oil companies on crude?
There's simply no way to make it work. They'll just pass the buck on to the consumer - like always.
Re: McCain and Obama on Energy
That's why i posted this thread James, it actually gives both sides of the story, and by some divine miracle, it's about issues.
Like i said before, that whole idea of windfall profits is increadibly stupid. I think it's a horrible idea, and i think McCain really has a strong plan on this issue, where Obama's will only backfire at him in more ways than one.
There are holes in each plan, but Obama's plan couldn't hold any water.
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