Skip navigation


Current DateTime: 12:20:43 30 Nov 2009
LinksList Documentid: 24355697
  • The Cost of True Love

      In the popular holiday song "The 12 Days of Christmas," the cost of gifts - from the 12 drummers drumming to a partridge in a pear tree - is quite pricey.

  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

FEATURED QUIZZES


Current DateTime: 12:20:43 30 Nov 2009
LinksList Documentid: 33793611
  • Test Your Google IQ

      How much do you know about the most popular search engine in the world? Take the following quiz and find out.

  • How Well Do You Know Your Bird?

      Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.

  • A Healthier & Wealthier You

      Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.


Current DateTime: 12:20:43 30 Nov 2009
LinksList Documentid: 24890560
  • Holiday Central

      There are plenty of reasons to believe that this Christmas holiday season will not be as bad for retailers as last year.

  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

powered by digg
By: Reuters | 05 Nov 2008 | 11:49 AM ET
Text Size

Barack Obama
CNBC.com
Barack Obama

Energy was a major issue in the U.S. presidential campaign after high gasoline prices added to consumer woes this year and candidates pledged to reduce America's dependence on foreign oil.

Here is a look at the energy plan of President-elect Barack Obama.

ENERGY RESEARCH

Obama wants to invest $150 billion over 10 years on low-carbon energy sources that will help create 5 million jobs, double research and development spending on biomass, solar and wind resources; accelerate commercialization of plug-in hybrid cars, invest in low-emission coal plants.

WINDFALL PROFITS TAX

Obama supports a five-year windfall tax on excessive profits of large oil companies. The proceeds from the tax would pay for a $1,000 tax rebate for low- and middle-income families to help them cope with rising energy prices.

OIL USE

Obama would reduce overall U.S. oil consumption within 10 years to offset the millions of barrels of crude imported from OPEC members in the Middle East and Venezuela.

VEHICLE FUEL ECONOMY

Obama would raise vehicle fuel economy standards by 4 percent a year and give automakers $4 billion in assistance to retool plants for making new fuel-efficient cars. Provide a $7,000 tax credit for purchasing "advanced technology" vehicles and put 1 million plug-in hybrid cars that get 150 miles per gallon on the road by 2015.

EXISTING DRILLING LEASES

Require energy companies to develop the 68 million acres leased from the government for oil and natural gas drilling or lose those leases.

OFFSHORE DRILLING

Obama opposed lifting the congressional moratorium on drilling in federal lands off U.S. coasts, but now says he would support limited expanded offshore drilling as part of broader legislation to help solve America's energy problems.

ARCTIC NATIONAL WILDLIFE REFUGE DRILLING

Obama opposes drilling in the Arctic National Wildlife Refuge in Alaska.

STRATEGIC PETROLEUM RESERVE

Earlier in the campaign, Obama opposed releasing oil from the reserve unless there was a severe supply disruption, but he now supports releasing 70 million barrels of light sweet crude, which would be replaced later with heavier crude.

BIOFUELS

Require the U.S. to produce at least 60 billion gallons of advanced biofuels like cellulosic ethanol a year by 2030; build ethanol distribution infrastructure, mandate that all new vehicles be "flex fuel" by end of his first term, produce 2 billion gallons of "cellulosic" ethanol from non-corn sources like switchgrass and wood chips by 2013.

NUCLEAR POWER

Obama supports nuclear power, but says how to dispose of nuclear waste from U.S. plants and prevent nuclear proliferation must be solved before more reactors are built. He opposes storing nuclear waste at Yucca Mountain in Nevada.

CLIMATE CHANGE

Obama would cut carbon dioxide emissions to 80 percent below 1990 levels by 2050; reduce emissions to 1990 levels by 2020; require fuel suppliers to cut carbon content of their fuel by 10 percent by 2020.

ELECTRICITY

Obama wants to require U.S. utilities to generate 10 percent of their electricity from renewable sources like wind, solar and geothermal by 2012 and 25 percent by 2025; extend for 5 years the federal production tax credit for electricity generated by renewable sources; modernize the electric grid.

WEATHERIZE HOMES

Obama wants to weatherize 1 million low-income homes a year by installing fuel-efficient furnaces, replacing windows and adding insulation.

Copyright 2009 Reuters. Click for restrictions.
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • Ever wished your cab driver would stop chatting and just get to where you're going? Well, that moment is closer than ever.
  • UPS truck
  • UPS is giving its customers the option to offset its carbon emissions when sending a package.
  • Romania's presidential campaign has been rocked by a video that may show the president striking a 10-year-old boy.
  • alligator
  • Raising alligators is hard work, and the fickle taste of rich consumers has just made it much harder, says the NY Times.
  • A recent issue of ESPN Magazine was one of its top sellers ever, and it only took scantily clad athletes to make it happen.
  • The continued real estate boom in China is partially fueled by a generational flood of newlyweds.
ADD COMMENTS
Remaining characters


Current DateTime: 09:11:55 30 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 11:44:56 30 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 11:00:11 30 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 11:23:58 30 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters