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Obama & McCain's Energy Proposals: A Taxing Issue Print E-mail
Written by Associated Press   
Thursday, 09 October 2008
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CCF Note: The AP provides a succinct snapshot of the two candidates' positions on energy, and consequently, the environment.

Republican John McCain: Favors increased offshore drilling and building 45 nuclear power reactors by 2030. Crystal Benton, speaking for McCain, said he proposes no federal spending to help in construction of the plants. McCain believes the goal can be achieved with loan guarantees in existing law, with resolution of the impasse over waste disposal and with financial advantages the industry would have as a zero-emissions power source under his cap and trade program, she said. McCain opposes drilling in Alaska's Arctic National Wildlife Refuge. Proposed suspending the 18-cent a gallon federal gasoline tax but idea got no traction. Global warming plan would increase energy costs.

Democrat Barack Obama: Now would consider limited increase in offshore drilling. Opposes drilling in Arctic reserve. Proposes windfall-profits tax on largest oil companies to pay for energy rebate of up to $1,000. Opposed suspension of the gas tax. Proposed releasing 70 million barrels of oil from Strategic Petroleum Reserve to boost supplies. Global warming plan would increase energy costs.

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