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Energy
While each candidate agrees that the United States depends far too much on imported oil and gas, opinion varies on how to lessen the burden and how to promote research and development of other energy sources. Read the stances of the presidential candidates below. The views of the vice presidential candidates are shown where available.
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DEMOCRATS
Barack Obama
Says he would invest $150 billion over 10 years in clean energy. Proposes increasing fuel economy standards and would require that 25 percent of electricity consumed in the U.S. is derived from clean, sustainable energy sources by 2025.
Gas tax holiday
Said he does not support a federal gas tax holiday and called it a "classic Washington gimmick." Voted for an Illinois gas tax holiday while in the Illinois State Senate. "Six months later we took a look, and consumers had not benefited at all, but we had lost revenue. I learned from a mistake."
Energy rebate
Said during an August 4, 2008, speech that "we should immediately give every working family in America a $1,000 energy rebate, and we should pay for it with part of the record profits that the oil companies are making right now."
Strategic Petroleum Reserve
Would suspend buying oil for the Strategic Petroleum Reserve. Said during an August 4, 2008, speech that the U.S. should sell 70 million barrels of oil from the reserve for less expensive crude oil. Earlier this year, Obama said he did not think the country should use the strategic oil reserves "at this point." He said on July 7: "I have said and, in fact, supported a congressional resolution that said we should suspend putting more oil into the strategic oil reserve, but the strategic oil reserve I think has to be reserved for a genuine emergency."
Taxes on oil companies
Advocates a windfall profits tax on oil companies.
Offshore drilling
Previously was against lifting federal government restrictions on offshore drilling, but appeared to modify his position in an August 1 statement that supported a bipartisan legislative effort that would expand offshore oil drilling. Part of the statement read: "I remain skeptical that new offshore drilling will bring down gas prices in the short-term or significantly reduce our oil dependence in the long-term, though I do welcome the establishment of a process that will allow us to make future drilling decisions based on science and fact."
Nuclear energy
Stated in a presidential debate that "we should explore nuclear power as part of the energy mix." Says he will find safer ways to use nuclear power and store nuclear waste.
Coal
Says he would invest in technology that will allow us to use more coal.
Cars and driving
Would mandate all new cars be flex-fuel capable and supports advanced technology, including research into new engines and plug-in hybrids. Would provide retooling credits to help domestic manufacturers switch to more fuel-efficient cars. Has said he would make $4 billion in loans to help domestic manufacturers retool factories and build more fuel-efficient cars. Says he would put 1 million 150-mpg hybrid cars on U.S. roads within six years and would provide a $7,000 tax credit to consumers to buy fuel-efficient cars. Supports next generation biofuels.
Renewable energy
Says he would require that 10 percent of U.S. energy come from renewable sources by the end of his first presidential term. Says he would extend the Production Tax Credit for five years to encourage the production of renewable energy like wind power, solar power and geothermal energy.
Climate change
Proposes reducing carbon emissions by 80 percent by 2050 by using a market-based cap-and-trade system. Would create a Global Energy Forum and re-engage with the United Nations Framework Convention on Climate Change.
CNNMoney: More on Obama and gas prices |
Energy security
Joe Biden
Says he does not support offshore oil drilling. Earlier in September however, he said he would support it if certain conditions were met, according to The Wall Street Journal. Supports using oil from the Strategic Petroleum Reserve to lower gas prices. He advocates increased funding for alternative fuel and energy sources, and energy-efficient vehicles and appliances. Opposes opening the Alaska National Wildlife Refuge for oil exploration.
REPUBLICANS
John McCainProposes a national energy strategy that will rely on the technological prowess of American industry and science. Would not support subsidizing every alternative or tariffs that restrict the competition that stimulates innovation and lower cost. Says he would work to reduce carbon emissions 60 percent below 1990 levels by 2050.
Gas tax holiday
Has called for the suspension of the 18.4-cent-a-gallon federal gas tax and 24.4-cent-a-gallon diesel tax from Memorial Day to Labor Day. The McCain campaign has said the lost revenue would be paid for by money from the general fund.
Strategic Petroleum Reserve
Advocates suspending the purchase of foreign oil for the Strategic Petroleum Reserve during periods of high prices to reduce demand.
Taxes on oil companies
Opposes windfall profits tax on U.S. oil companies.
Offshore drilling
Believes the federal government should lift restrictions on offshore drilling and provide incentives to states permitting offshore exploration. McCain said he opposed lifting such restrictions during his 2000 presidential campaign run. Against drilling in the Arctic National Wildlife Refuge.
Nuclear energy
Calls for building 45 new nuclear power plants by 2030 with the goal of eventually constructing 100 plants. Believes barriers to nuclear energy are political not technological. Would provide for safe storage of spent nuclear fuel and give host states or localities a proprietary interest so when advanced recycling technologies turn used fuel into a valuable commodity, the public will share in its economic benefits.
Coal
Says he would commit $2 billion annually to advance clean coal technology.
Cars and driving
Proposes a $300 million award for "the development of a battery package that has the size, capacity, cost and power to leapfrog the commercially available plug-in hybrids or electric cars." Has called on automakers to make a more rapid switch to flex-fuel cars.
Renewable energy
Says he would promote market for alternative, low carbon fuels such as wind, hydro and solar power and would work to create a system of tax credits to develop such sources.
Climate change
Proposed a bipartisan plan to address the problem of climate change and stimulate the development and use of advanced technologies. It is a market-based approach that would set caps on carbon and other greenhouse gas emissions, and provide industries with tradable credits.
CNNMoney: More on McCain and gas prices |
Energy security
Sarah Palin
Is a proponent of off-shore oil drilling. During her vice presidential nomination acceptance speech, she said: "Our opponents say again and again that drilling will not solve all of America's energy problems, as if we didn't know that already. But the fact that drilling, though, won't solve every problem is no excuse to do nothing at all."
She added: "Starting in January, in a McCain-Palin administration, we're going to lay more pipelines, and build more nuclear plants, and create jobs with clean coal, and move forward on solar, wind, geothermal and other alternative sources. "
Supports opening the Arctic Wildlife National Refuge for oil exploration.