Group items tagged

Here's something else that could create political complications for John McCain in key swing states as he continues to defend measures that would maintain tax breaks for the oil industry: He recently opposed extending tax breaks for the wind-power industry. Making this more difficult for McCain, the fledgling wind-power industry is popular in key upper Midwest and central plains states -- and here you have McCain protecting such tax breaks for Big Oil, but opposing them for Big Wind, or, if you prefer, Little Wind.

Today, Sen. John McCain (R-AZ) is touring an oil rig off the coast of Louisiana in order "to highlight his support for increased domestic offshore drilling." Although he will not join McCain today, Louisiana Gov. Bobby Jindal (R) promoted McCain's oil rig visit in an appearance on Fox and Friends this morning.

Sarah Palin just helped clarify McCain's double-talk on global warming: He doesn't think the government should do anything to stop it. Voters who care about either global warming or clean energy have only one choice -- and it isn't McCain-Palin. It's time to stop trying to guess whether the latest McCain campaign gaffe revision on global warming means the Arizonan has walked away from his previous support for mandatory government control of greenhouse gases. He has.

John McCain again pushed for offshore drilling Monday, and suggested it could provide relief to American consumers "within a matter of months." "There are some instances within a matter of months, they could be getting additional oil. In some cases, it would be a matter of a year," McCain said at a press conference in Bakersfield, California. "In some cases, it could take longer than that depending on the location and whether or not you use existing rigs or you have to install new rigs. But there is abundant resources in the view of the people who are in the business that could be exploited in a matter of months."

John McCain said it. Right out loud in the third debate. "Obviously, we had to take Saddam Hussein out of Kuwait or it would've threatened the Middle Eastern oil supply." The first gulf war was about defending access to oil after all. McCain reiterated the theme later on, as he has in past debates, when he said that we need to "eliminate our dependence on the places in the world that harm our national security."

Republican presidential candidate John McCain visited this oil platform in the Gulf of Mexico on Tuesday to call for increased offshore drilling that he claims would lower the cost of food and heating homes.

Some GREAT breaking stuff from Obama's town-hall meeting occuring now in Indiana. He opened up with remarks that took McCain to task even harder than he has in the past: "Senator McCain's energy plan reads like an early Christmas list for oil and gas lobbyists. And it's no wonder - because many of his top advisors are former oil and gas lobbyists." Love that he included the fact that his advisors were oil and gas lobbyists. It's as if Barack Obama suddenly woke up and realized all the material he had to work with in going after McCain. But there's much more great stuff:

Both The Hill and Politico.com have reported that a bipartisan "gang" of 20 Senators will not introduce a compromise energy bill before the election. You can read details of the original compromise here: The Gang-of-10 drilling deal is something for nothing. This is a huge triumph for McCain and major political blunder by Congressional Democrats. The original energy compromise was, I argued, "the best chance -- indeed, the only chance -- the Dems will have to simultaneously give the lie to McCain's faux bipartisanship and to expose the Big Energy Lie, the absurd notion that McCain and the Republicans believe in an all-of-the-above energy for dealing with our energy crises" (see "Gang-of-10 deal is a must for Dems").

What's it got to do with the price of gas? Would some reporter with access to the Republican presidential candidate please ask John McCain why he wants to continue President Bush's Mideast policy when it has proved so ruinous for American taxpayers? Because McCain is determined to ignore our economic meltdown and shift the debate to foreign policy, shouldn't he have to explain why an open-ended military presence in the Mideast will make us economically and militarily more secure when the opposite is clearly the case?

The Bush/McCain gas price escalation is an Enron rerun. It is Chapter 2 of the scam that Bush crony "Kenny Boy" Lay used in 1999-2001 to steal $100 billion from California ratepayers.

SANTA BARBARA -- John McCain came to California promoting an array of ideas to spur the market for clean cars and otherwise reduce carbon emissions. But in this coastal city, the site of a disastrous oil spill in 1969, the presumptive Republican presidential nominee was dogged by critics at nearly every turn for his recent embrace of offshore drilling.

My top 10 oil industry stories of 2008: 1. Crude prices soar in 1H, WTI tops $147, Brent right behind 2. Prices collapse below $50 in 2H as demand retreats 3. Ethanol's struggles: VeraSun bankruptcy, others barely profitable, spreads collapse 4. Push begins to lift offshore drilling ban in US; Obama and McCain differ on approach 5. Capital crunch and low prices lead to deferred investment 6. Shale gas supply in US surges, a new factor in supply/demand balance 7. Credit crunch slows activity for once free-wheeling traders 8. Diesel surges, gasoline/naphtha plunge; traditional cracks skewed 9. Russian oil output to fall in 2008, first time in a decade 10. Brazil subsalt finds continue to lift nation's upstream prospects

Barack Obama and John McCain are promising voters a Tomorrowland of electric cars and high-speed trains and solar panels, a vision of American life without a drop of imported oil. But their plans to get there look more like Fantasyland. A host of energy policy experts agree that true "energy independence"-a key catch phrase of this presidential campaign-would be far more expensive and disruptive than either candidate is telling you.

On Wednesday, Sen. John McCain (R-AZ) defended Alaska Gov. Sarah Palin's "experience" in "the field of national security" by asserting that "she knows more about energy than probably anyone else in the United States of America." McCain's claim to Palin's expertise was undercut the next day, however, when Palin severely overstated Alaska's energy production in an interview with ABC News's Charlie Gibson. Challenged by Gibson on her "national security credentials," Palin cited her experience as the governor of a "state that produces nearly 20 percent of the U.S. domestic supply of energy" as a credential that she "brings to the table":

From SUV's to long commutes, the American lifestyle is based on cheap gasoline. Cheap energy allows us to live far away from our jobs and to engage in conspicuous consumption contests based on who has the biggest automobile. Now, gas prices have skyrocketed, and higher prices at the pump are hitting us where it hurts. Since we also have a presidential election coming up in November, our pain at the pump has been hijacked and turned into a political issue. There are no quick-and-easy solutions to high gas prices, but the Republican candidate, John McCain, is promoting opening up our coasts to offshore drilling as just that: an easy solution that will result in immediate relief.

Record high gas prices have been making the news headlines for the past few months. Each week gas prices top the previous week, resulting in a new all-time high. Unless you are fortunate enough to live, work and play within walking distance from your home, you have been affected by these high gas prices like the rest of the nation. While the public continues to be outraged about gas prices, some politicians (McCain, Bush, and Gingrich) are taking advantage of the dire situation by organizing a push to drill for oil along our coastlines and lift a 27-year moratorium.

"Gas prices - $4, $5, no end in sight, because some in Washington are still saying no to drilling in America," says the narrator in the TV ad that Republican presidential candidate John McCain played last week. "Who can you thank for rising prices at the pump?"

When Clinton and McCain proposed cutting gas taxes, I asked my environmental economics students, "So how much do you think drivers will save?" The students diligently Googled the numbers. "Well," said one, "the federal gas tax is 18.4 cents and the average state tax is 28.6 cents, so that's 47 cents a gallon drivers will save!" "But what about elasticity of demand and supply?" I asked. "Oh!!! Forgot about that!"

A look at some of the positions of the presidential candidates on energy and global warming:

Offshore drilling became a campaign issue as gasoline prices hit $4 a gallon. Public opinion polls show that not only do Americans want their elected leaders to do something about it, but they think drilling for oil on the continental shelf is a great idea.