4 of 22
BACKNEXT
Driving
Both candidates want to make every gallon count. Government prizes are pivotal to McCain's plan, while Obama wants to place more stringent requirements on automakers.

· Raise penalties car companies pay for violating Corporate Average Fuel Economy (CAFE) standards.

· Offer $5,000 tax credit for every customer who buys a zero-emission car.

· Speed introduction of "flex-fuel vehicles" that can run on ethanol blends and gasoline.

· Remove or reduce tariffs on imported ethanol.

· Award $300 million prize to the company that can produce a plug-in hybrid battery technology at 30% of current costs, allowing commercial development of plug-in hybrid cars.

"...Our government has thrown around enough money subsidizing special interests and excusing failure. From now on, we will encourage heroic efforts in engineering, and we will reward the greatest success." -- McCain*
· Double fuel economy standards within 18 years while maintaining current flexibility.

· Offer $7,000 tax credit to buyers of plug-in hybrids.

· Mandate all new cars be flex-fuel capable.

· Provide $4 billion in retooling credits and loans to help domestic manufacturers switch to more fuel-efficient cars.

· Aim to get 1 million 150 mile-per-gallon plug-in hybrids on the roads within six years.

· Support creation of more transit-friendly communities and level employer commuting assistance for driving and public transit.

"I have a plan to raise the fuel standards in our cars and trucks with technology we have on the shelf today -- technology that will make sure we get more miles to the gallon." -- Obama**




NEXT: Energy Security
Last updated October 29 2008: 12:15 PM ET
Source:
*June 23, 2008, Speech, Fresno, Calif.
**June 24, 2008, Speech, Las Vegas, Nev.
More Galleries
The median home price is $236,000. Here's what that buys you The median home price climbed to $236,400 in June, according to the National Association of Realtors. Here's what that will buy you across the United States. More
Affordable homes with water views Living by the water doesn't always have to set you back seven figures. More

Special Offer