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here.Provide
Short-term Relief to American Families
- Enact a Windfall Profits Tax to Provide a $1,000
Emergency Energy Rebate to American Families. Obama
and Biden will enact a windfall profits tax 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.
Eliminate Our Current Imports from the Middle East and Venezuela
within 10 Years
- 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.
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.
- Create a New $7,000 Tax Credit for Purchasing Advanced
Vehicles.
- Establish a National Low Carbon Fuel Standard.
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.
- A “Use it or Lose It” Approach to Existing Oil and Gas
Leases. Obama and Biden will require oil companies to
develop the 68 million acres of land (over 40 million of which are
offshore) which they have already leased and are not drilling on.
- Promote the Responsible Domestic Production of Oil and
Natural Gas. An Obama-Biden administration will
establish a process for early identification of any infrastructure
obstacles/shortages or possible federal permitting process delays to
drilling in the Bakken Shale formation, the Barnett shale formation,
and the National Petroleum Reserve-Alaska.
Create Millions of New Green Jobs
- Ensure 10 percent of Our Electricity Comes from
Renewable Sources by 2012, and 25 percent by 2025.
- Deploy the Cheapest, Cleanest, Fastest Energy Source --
Energy Efficiency. Obama and Biden will set an
aggressive energy efficiency goal -- to reduce electricity demand 15
percent from projected levels by 2020.
- Weatherize One Million Homes Annually.
Obama and Biden will make a national commitment to weatherize at
least one million low-income homes each year for the next decade,
which can reduce energy usage across the economy and help moderate
energy prices for all.
- Develop and Deploy Clean Coal Technology.
Obama’s Department of Energy will enter into public private
partnerships to develop five “first-of-a-kind” commercial scale
coal-fired plants with clean carbon capture and sequestration
technology.
- Prioritize the Construction of the Alaska Natural Gas
Pipeline. As president, Obama will work with
stakeholders to facilitate construction of the pipeline. Not only is
this pipeline critical to our energy security, it will create
thousands of new jobs.
Reduce our Greenhouse Gas Emissions 80 Percent by 2050
- Implement an economy-wide cap-and-trade program to
reduce greenhouse gas emissions 80 percent by 2050.
The Obama-Biden cap-and-trade policy will require all pollution
credits to be auctioned, and proceeds will go to investments in a
clean energy future, habitat protections, and rebates and other
transition relief for families.
- Make the U.S. a Leader on Climate Change.
Obama and Biden will re-engage with the U.N. Framework Convention on
Climate Change (UNFCC) -- the main international forum dedicated to
addressing the climate problem. They will also create a Global
Energy Forum of the world’s largest emitters to focus exclusively on
global energy and environmental issues.
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