Thursday, July 31, 2008

Obama's New Energy Initiative

Campaigning deep in Republican territory, Barack Obama called for a national energy independence initiative similar to the 1960s Apollo mission to the moon.

Obama and McCain have split on the issue of offshore oil drilling with McCain supporting George W. Bush's call for new exploration. Obama notes that it will take at least 10 years to bring oil to the market with new drilling by which time it will only account for a minuscule percent of American consumption.

The Illinois senator instead suggests investing $15 billion a year for 10 years in new spending on clean energy technologies.

Practically this 10 year plan will provide a more lasting and effective solution than a resumption of offshore drilling with the latter plan likely generating intense opposition.

The money for Obama's green energy spending will come from ending tax breaks and loopholes that currently exist for energy companies, and by taxing companies that emit large quantities of climate-changing carbon into the atmosphere.

Barack also wants to initiate a plan that will increase overall energy efficiency by 50 percent by the year 2030.

For More Information about Barack's Plan

(PDF)Read the Energy Plan
(PDF)Read the Environment Plan

No comments:

Popular Posts