ENERGY PLAN

ENERGY PLAN

Barack Obama

The presumptive Democratic presidential nominee will discuss his short-term and long-term energy solutions during a speech today at Austintown Fitch High School.

SHORT-TERM SOLUTIONS:

• A $1,000 energy rebate for every working family paid “with part of the record profits that the oil companies are making right now.”

• Ordering oil companies to drill on the 68 million acres it leases from the federal government.

• Have the government sell 70 million barrels of oil from the strategic petroleum stockpile, a reversal from his previous position.

• Tap more national gas reserves and work with the Canadian government to build an Alaska natural gas pipeline.

• A limited amount of new off-shore drilling as part of a comprehensive plan, also a reversal from his previous position.

LONG-TERM SOLUTIONS:

• Investing $150 billion to leverage billions more in private money to build a new energy economy that would create 5 million jobs and eliminate the need for oil from the Middle East and Venezuela in 10 years.

• Provide $4 billion in loans and tax credits to auto plants and manufacturers to retool their factories to build 1 million 150-mpg plug-in hybrid cars within six years.

• Require that 10 percent of the nation’s energy come from renewable sources by January 2013.

• Have 6 billion gallons of fuel from sustainable, affordable biofuels by 2022.

• Find safer ways to use nuclear power.

• Invest in technology to use more coal.

• Reduce the demand for electricity by 15 percent by the end of the decade. That would save $130 billion on energy bills.

• Reduce carbon emissions by 80 percent by 2050.

Source: Obama campaign