US Presidential Candidates Views on the Environment and Energy

June 4, 2008

 

As reported by Reuters:

 

(Reuters) – With crude oil prices surging to record highs above $130 a barrel, energy and environmental issues like global warming have moved to the forefront of the U.S. presidential campaign.

 

Here is what Republican John McCain and Democrat Barack Obama, who claimed his party’s nomination on Tuesday, are saying about energy and the environment:

 

CLIMATE CHANGE

 

Obama would cut carbon dioxide emissions to 80 percent below 1990 levels by 2050, reduce emissions to 1990 levels by 2020 and require fuel suppliers to cut carbon content by 10 percent by 2020.

 

McCain favors a cap-and-trade CO2 approach. He sponsored legislation in 2007 to cut emissions by 30 percent by 2050.

 

GASOLINE PRICES

 

Obama would probe energy industry activities and stop filling the emergency oil reserve.

 

McCain wants to suspend the federal gasoline tax during the peak summer driving season and suspend filling of the Strategic Petroleum Reserve, a stockpile designed to ensure the United States has a cushion of crude oil to cope with major supply disruptions.

 

(On May 19, President George W. Bush signed a law to temporarily halt shipments to the reserve, which now holds almost 703 million barrels at four underground storage sites, until crude prices drop below $75 a barrel.) 

 

OIL USE

 

Obama would reduce overall U.S. oil consumption by at least 35 percent, or 10 million barrels per day, by 2030 to offset imports from OPEC nations.

 

McCain has set no specific targets. He has said he will unveil a strategy to reduce reliance on foreign oil sources.

 

VEHICLE FUEL ECONOMY

 

Obama would double fuel economy standards in 18 years, give automakers tax credits to retool plants and invest in advanced lightweight materials and new engines

.

McCain has not specified Corporate Average Fuel Economy (CAFE) targets. He voted against energy amendments in 2003 that would have boosted CAFE to 40 mpg by 2015.

 

BIOFUELS

 

Obama would boost the renewable fuel standard to at least 60 billion gallons of advanced biofuels like cellulosic ethanol by 2030, build the ethanol distribution infrastructure, mandate that all new vehicles be “flexfuel” by the end of 2012 and seek production of 2 billion gallons of cellulosic ethanol from non-corn sources like switchgrass by 2013.

 

McCain favors ethanol incentives after opposing them in the past. He generally opposes subsidies and tariffs that distort the marketplace.

 

Our Perspective:

 

What are your feelings about the current energy issues?

 

Do you believe there is an issue or is this being fabricated by corporate greed?

 

You can probably find some truth on both sides of that statement.

 

In NJ, we are looking at a projected 1.5% increase in electric demand per year for the next 8-10 years. If something is not done to help the providers meet this demand we faces the possibility of rolling brownouts.

 

This oil crisis has been brewing for the last 35+ years. I remember being in college and we had  odd – even days gas rationing. At that time everyone was saying, never again.

 

Guess what? We were only paying about $.30 a gallon.

 

What happened?

 

Well here we are 35 years later and we are now paying $4.00 a gallon and the efficiencies of the auto have not increased.

 

What incentive does the auto manufacturers have when we were willing to buy SUV and Hummers?

 

The US government is even paying subsidies to the oil companies to help keep the price of gasoline lower than what other countries are now paying. That really worked!

 

What do we do now?

 

If we keep going with the business as usual mentality, we will be paying $12 – $15 per gallon in the next couple of years.

 

There is talk that we will probably be paying $5.00 a gallon by the end of the summer.

 

The subsidies must be taken away from the oil companies and they should be targeted to the auto manufactures. There is no reason why a car should not be getting 40 – 50 miles per gallon. There is also many alternative fuel / energy solutions available to wean ourselves off the oil fix and create true independence.

 

We have sent a man to the moon. We have found cures for many diseases that once haunted us. We must take the necessary steps to provide a long-term solution that will provide for our children a better tomorrow.

 

Let us know your thoughts. You may email george@hbsadvantage.com

 

Visit us on the web www.hutchinsonbusinesssolutions.com

 

Hutchinson Business Solutions

 

Creating Opportunities Today………Providing Savings for Tomorrow

One Response to “US Presidential Candidates Views on the Environment and Energy”

  1. […] admin wrote an interesting post today onHere’s a quick excerptHe voted against energy amendments in 2003 that would have boosted CAFE to 40 mpg by 2015. BIOFUELS. Obama would boost the renewable fuel standard to at least 60 billion gallons of advanced biofuels like cellulosic ethanol by 2030, … […]

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