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Gas prices drop, options still vital
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Published: October 12, 2008
Today's Campaign Notebook looks at the fuel crisis.
Even with the cost of gasoline dropping, consumers look at the energy market with suspicion. Many wonder what's next, if this is a way to dampen the enthusiasm for alternative energy sources and the development of vehicles that don't run on fossil fuels.
Here, from The Associated Press, are synopses on how the presidential candidates look at the issue.
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.
The issue is far from settled. The United States needs a strong commitment on alternative energy. For sure, the nation has untapped petroleum reserves.
We still need short-term and long-range strategies, regardless of the cost and availability of gasoline.
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