Obama's stance on new energy

The Obama-Biden comprehensive New Energy for America plan will:
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• Help create five million new jobs by strategically investing $150 billion over the next ten years to catalyze private efforts to build a clean energy future.

• Within 10 years save more oil than we currently import from the Middle East and Venezuela combined.
o Eliminate Our Current Imports from the Middle East and Venezuela within 10 Years

• Put 1 million Plug-In Hybrid cars -- cars that can get up to 150 miles per gallon -- on the road by 2015, cars that we will work to make sure are built here in America.

• Ensure 10 percent of our electricity comes from renewable sources by 2012, and 25 percent by 2025.

• Implement an economy-wide cap-and-trade program to reduce greenhouse gas emissions 80 percent by 2050.

• Provide Short-term Relief to American Families
o Enact a Windfall Profits Tax to Provide a $1,000 Emergency Energy Rebate to American Families.

 on excessive oil company profits to give American families an immediate $1,000 emergency energy rebate to help families pay rising bills. This relief would be a down payment on the Obama-Biden long-term plan to provide middle-class families with at least $1,000 per year in permanent tax relief.

• Crack Down on Excessive Energy Speculation.
Barack Obama and Joe Biden will close energy industry market loopholes and increase transparency to prevent traders from unfairly lining their pockets, while driving up oil prices at the expense of the American people.
Swap Oil from the Strategic Petroleum Reserve to Cut Prices.
With oil prices doubling in the past year, Barack Obama and Joe Biden believe we have an economic emergency that requires a limited, responsible swap of light oil from the Strategic Petroleum Reserve (SPR) for heavy crude oil to help bring down prices at the pump. « Return to New Energy for America
Increase Fuel Economy Standards.
Obama and Biden will increase fuel economy standards 4 percent per year while providing $4 billion for domestic automakers to retool their manufacturing facilities in America to produce these vehicles.


• Get 1 Million Plug-In Hybrid Cars on the Road by 2015.
o These vehicles can get up to 150 miles per gallon. Barack Obama and Joe Biden believe we should work to ensure these cars are built here in America, instead of factories overseas.
o Create a New $7,000 Tax Credit for Purchasing Advanced Vehicles.


• Establish a National Low Carbon Fuel Standard.
o Obama and Biden will establish a National Low Carbon Fuel Standard (LCFS) to reduce the carbon in our fuels 10 percent by 2020. Obama and Biden will also require 60 billion gallons of advanced biofuels to be phased into our fuel supply by 2030.