John McCain and Barack Obama on Energy Policy and Offshore Drilling
Even before $4-a-gallon gas became a reality this year, concerns about energy supplies and climate change were generating historic buzz in the campaign. The primaries saw Barack Obama vie with Sen. Hillary Clinton for the title of biggest fan of renewable energy, and John McCain and former Gov. Mitt Romney tussle over whether green manufacturing jobs could help revive Detroit.
Turning point. On July 11, when crude oil prices reached a record $147 a barrel and the average price of a gallon of gas topped out at $4.10, energy issues moved front and center as a rancorous debate erupted in Congress over the merits of expanding domestic oil drilling.
Where McCain stands. McCain has a mixed voting record on offshore drilling, but in June, citing rising gas prices, he said he now favors increased domestic drilling (although the "pristine" Arctic National Wildlife Refuge would stay off limits). McCain tends to believe that government support should be limited to research and development and that the market should pick winners and losers in the renewable energy industry. But he is also a proponent of nuclear power—which is heavily subsidized—and has called for building 45 new reactors by 2030.
Where Obama stands. Obama is much cooler to the idea of expanding domestic offshore drilling, although in August he softened his position and said he would consider "limited new drilling" as leverage to allow Congress to move forward with efforts to fund alternative energy. Obama has consistently voted in the Senate for tax incentives and subsidies to promote wind and solar energy, and he has proposed spending $150 billion to advance new renewable technologies.
Bottom line. The next president will be under pressure to move quickly on energy issues. Though McCain tends to tout free-market policies and Obama favors government investment, both would have to reckon with tough new fiscal realities. Obama, for example, has suggested he might have to scale back some of his ambitious energy proposals because of the bailout package's drain on government resources.
Reader Comments
drilling for oil
I know it's hard to deal with high prices but think about it, with prices being what they are we are finally talking about alternatives. If the prices go back down to an all time low, those alternatives that we desperately need are not going to be realized. Even if we open up domestic drilling, it's benefits will not be instantaneous. They have to find it, haul in equipment, drill for it refine it and get it out to people who will buy it. How quickly do you really think that will happen. High prices for gas or not, I will pay them if it means ending the oil monopoly on transportation. It's time for something else, something clean.
sure
i agree with McCain for the first time. thats so true we do need to change our gas prices alot there going through the roof and i'm noty saying because i drive but i'm sayng for the people that do
Her field...
Drilling is her field, as she serves on the committee. If anyone knows what needs to be done, it's her. The problem is the mainstream media are only highlighted her goofs on issues of non-importance like her clothing. If they would give more press to her energy policy and plan, people would see she has more experience than the liberal illuminati and the media giver her.
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