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Cheap, Clean, Secure Energy for America
Nuclear Power: Nuclear power is a proven, reliable, zero-emission source of energy, and it is time to
recommit to advancing our use of nuclear power. The U.S. has not started construction on a new nuclear
power plant in over 30 years. Currently, nuclear power provides 20 percent of our overall energy portfolio.
Other countries such as China, India and Russia are looking to increase the role of nuclear power in their
energy portfolio and the U.S. should not just look to maintain, but increase its own use. John McCain will
put our country on track to construct 45 new nuclear power plants by 2030 with the ultimate goal of
eventually constructing 100 new plants.
It is also critical that the U.S. be able to build the components for these plants and reactors within our
country so that we are not dependent on foreign suppliers with long wait times to move forward with our
nuclear plans. The development of new nuclear plants will re-create a U.S. industry that has
disappeared: manufacturing components of nuclear power plants, as well as assembling and operating
the plants. A rough estimate is that 45 new nuclear power plants will create roughly 700,000 jobs - jobs in
construction, engineering, operation and maintenance.
Coal: John McCain will commit $2 billion annually to advancing clean coal technologies. Coal produces
the majority of our electricity today. Some believe that marketing viable clean coal technologies could be
over 15 years away. John McCain believes that this is too long to wait, and we need to commit significant
federal resources to the science, research and development that advance this critical technology. Once
commercialized, the U.S. can then export these technologies to countries like China that are committed to using their coal - creating new American jobs and allowing the U.S. to play a greater role in the
international green economy.
The development of clean coal technology will revitalize coal mining and return jobs to some of America's
most economically disadvantaged areas. The demonstration projects alone will employ over 30,000
Americans.
Renewables: John McCain will encourage the market for alternative, low carbon fuels such as wind,
hydro and solar power. According to the Department of Energy, wind could provide as much as one-fifth
of electricity by 2030. The U.S. solar energy industry continues its double-digit annual growth rate in
2008. To develop these and other sources of renewable energy will require that we rationalize the current
patchwork of temporary tax credits that provide commercial feasibility. John McCain believes in an even-
handed system of tax credits that will remain in place until renewable energy has progressed to the point
that it is competitive with conventional energy sources.
John McCain will commit our country to expanding domestic oil and natural gas exploration. The current
federal moratorium on drilling in the Outer Continental Shelf stands in the way of energy exploration and
production. John McCain believes it is time for the federal government to lift these restrictions and work
with states to put our own reserves to use. There is no easier or more direct way to prove to the world that
we will no longer be subject to the whims of others than to expand our production capabilities.
We have trillions of dollars worth of oil and gas reserves in the U.S. at a time we are exporting hundreds
of billions of dollars a year overseas to buy energy. This is the largest transfer of wealth in the history of
mankind. We should keep more of our dollars here in the U.S., lessen our foreign dependency, increase
our domestic supplies, and reduce our trade deficit - 41 percent of which is due to oil imports. John
McCain proposes to cooperate with the states and the Department of Defense in the decisions to develop
these resources.
Estimates from the Minerals Management Service indicate that technically recoverable resources
currently off limits in the lower 48 OCS total 18 billion barrels of crude oil and 77 trillion cubic feet of
natural gas. John McCain believes in promoting and expanding the use of our domestic supplies of oil
and natural gas when people are hurting, and struggling to afford gasoline, food and other necessities,
and when our manufacturing businesses are increasingly hampered by the high cost of natural gas.
John McCain believes we must understand the role speculation is playing in our soaring energy prices.
Congress already has investigations underway to examine this kind of wagering in our energy markets,
unrelated to any kind of productive commerce, because it can distort the market, drive prices beyond
rational limits, and put the investments and pensions of millions of Americans at risk. John McCain
believes that where we find abuses, they need to be swiftly punished. To make sure it never happens
again, we must reform the laws and regulations governing the oil futures market, so that they are just as
clear and effective as the rules applied to stocks, bonds, and other financial instruments.
The only way America can break its strategic dependence on foreign oil is to change how we power our
automobiles and rejuvenate our automotive industry. The Lexington Project will help do that through a
comprehensive plan.
Battery Technology: John McCain will propose a $300 million prize to improve battery technology for full
commercial development of plug-in hybrid and fully electric automobiles. A $300 million prize should be
awarded for the development of a battery package that has the size, capacity, cost and power to leapfrog
the commercially available plug-in hybrids or electric cars. That battery should deliver a power source at
30 percent of the current costs. At $300 million, the prize is one dollar for every man, woman and child in
this country - and a small price to pay for breaking our dependence on oil.
Clean Car Challenge: John McCain will issue a Clean Car Challenge to the automakers of America, in the
form of a single and substantial tax credit based on the reduction of carbon emissions. For every
automaker who can sell a zero-emissions car, John McCain will commit a $5,000 tax credit for each and
every customer who buys that car. For other vehicles, whatever type they may be, the lower the carbon
emissions, the higher the tax credit.
Flex-Fuel Vehicles (FFVs): In just three years, Brazil went from new cars sales that were about 5 percent
FFVs to over 70 percent of new vehicles that were FFVs. American automakers have committed to make
50 percent of their cars FFVs by 2012. John McCain calls on automakers to make a more rapid and
complete switch to FFVs.
Alternative Fuels: John McCain believes alcohol-based fuels hold great promise as both an alternative to
gasoline and as a means of expanding consumers' choices. Some choices such as ethanol are on the
market right now. The second generation of alcohol-based fuels like cellulosic ethanol, which won't
compete with food crops, are showing great potential. Unfortunately, today isolationist tariffs and wasteful
special interest subsidies are not moving us toward an energy solution. We need to level the playing field
and eliminate mandates, subsidies, tariffs and price supports that focus exclusively on corn-based ethanol
and prevent the development of market-based solutions which would provide us with better options for
our fuel needs.
CAFE Standards: John McCain has long supported CAFE standards - the mileage requirements that
automobile manufacturers' cars must meet. Some carmakers ignore these standards, pay a small
financial penalty, and add it to the price of their cars. John McCain believes that the penalties for not
following these standards must be effective enough to compel carmakers to produce fuel-efficient
vehicles.
Government Purchasing: John McCain will make greening the federal government a priority of his
administration. The federal government is the largest electricity consumer on earth and occupies 3.3 billion square feet of space worldwide. It provides an enormous opportunity to lead by example. By
applying a higher efficiency standard to new buildings leased or purchased and retrofitting existing
buildings, we can save taxpayers money in energy costs, and move the construction market in the
direction of green technology.
American Homes: Homeowners can save hundreds or even thousands of dollars a year with better light
bulbs, appliances, windows, and insulation. As Americans retro-fit to improve energy efficiency and
reduce their carbon footprint, jobs will flow to the U.S. providers of insulation, windows, appliances, and
other sources of energy efficiency.
Click here to learn more about John McCain's policies on energy and the economy.
Click here to learn more about John McCain's policies on energy and the environment.
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