Third and final debate touches on environment and energy

October 15, 2008

There wasn’t much new ground covered in this third and final debate regarding the environment and energy policy.  Some of the “highlights” include:

Obama indicated that energy policy is a place where America can actually improve our long term economic prospects by investing substantial resources today.

McCain reiterated his “all of the above” message, indicating that we need nuclear power (45 new plants right away), wind, tide, solar, natural gas, flex fuel, hybrid, clean coal and offshore drilling (which he noted Obama has opposed). 

He also noted that he opposes subsidies for ethanol because they distort the market and that we should eliminate the current tariff on Brazilian ethanol. 

When asked how many years it would take to reduce foreign oil imports, both candidates indicated it would take approximately 10 years to eliminate our dependence on Middle Eastern and Venezuelan oil. (Interestingly they limited the scope of their answer to a single region and country.)  Neither response was very bold or transformative, in contrast to the Gore, Pickens, and Google proposals.

McCain noted that clean coal technology is a key for the heartland of America, which is hurting badly.  Obama also noted that he supports clean coal technology, in spite of the ire that position has drawn from environmentalists. 

Obama also noted that we do need to expand domestic production.  Specifically he noted that oil companies must drill on their currently leased lands or lose them.  And added that while we can look at offshore drilling, we can’t drill our way out of the problem.  He indicated that solar, wind, biodiesel, geothermal are keys.  Additionally Obama asserted that Detroit must develop a domestically produced fuel efficient car.  ”We invented the auto industry and the fact that we’ve fallen so far behind is something we have to work on,” Obama noted. (Which would explain his support of the $25 billion in low interest loan guarantees for Detroit.)

McCain made a point of warning people to “pay attention to Obama’s words,”  implying that Obama’s statement that “we will look at offshore drilling” indicates that he is not serious about it.  If we could only be so lucky.

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