Week 6 Item 12

Obama on Renewable Energy


Obama highly supports the use of renewable energy sources in the United States. He has stated on various occassions that the United States should move forward in changing the ways in which we get our energy. On May 23, 2006, , "Obama submitted a piece of legislation which would require oil companies whose profits were over $1 Billion a year to invest at least 1% of these profits putting in fuel pumps which would pump E85, a mix with 85% ethanol and 15% regular gasoline, all over the country, or to put in pumps which would utilize other renewable resource fuels.

In support for his legislation, Obama stated, "For too long, American taxpayers have been forced to pay billions in subsidies to the very same record-profiting oil companies who now charge them record gas prices at the pump. It's time for the oil companies to give something back to America by investing just 1% of their record profits into the cheaper, cleaner renewable fuels like E85 that can finally free us from our dependence on Middle East oil."

His senate webpage estimated that this act alone would cause the installation of over 7,000 renewable energy fuel pumps.

In addition to his efforts to reduce oil usage, Obama calls for the investment of $150 billion in research about renewable energy sources in 2018. He would also require 10% of the nation's energy to come from renewable resources in the next 5 years, and reduce our electricity usage in the next 22 years.

http://obama.senate.gov/press/060523-obama_introduce_7/index.php

http://money.cnn.com/2008/11/03/news/economy/obama_what_he_stands_for/?postversion=2008110309