Energy Security
The candidates agree on the need to reduce dependence on foreign oil and cut greenhouse gases. Both support a carbon "cap-and-trade" system where companies either pay to pollute or invest in cleaner technology.
· Work to reduce carbon emissions 60% below 1990 levels by 2050.· Use mix of free market, government incentives and a lower corporate tax rate to foster renewable energy.
· Lift ban on offshore drilling.
· Commit $2 billion annually to advance clean coal technologies.
· Construct 45 new reactors by 2030 as part of a push to expand nuclear power production.
"...When it comes to energy, what we really need is to produce more, use less, and find new sources of power." -- McCain*
· Work to reduce carbon emissions 80% below 1990 levels by 2050.· Invest $150 billion in renewable energy over the next 10 years.
· Allow limited amount of offshore drilling.
· Require that 10% of nation's energy comes from renewable sources by 2013.
· Aim to reduce nation's demand for electricity 15% by 2020.
"To bring about real change, we're going to have to make long-term investments in clean energy and energy efficiency." -- Obama**
NEXT: Taxing Wealth
Last updated October 29 2008: 12:15 PM ET
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*June 18, 2008, Speech, Springfield, Mo.
**April 25, 2008, Speech, Indianapolis, Ind.
*June 18, 2008, Speech, Springfield, Mo.
**April 25, 2008, Speech, Indianapolis, Ind.
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