Our nation’s future security and prosperity depends on the next President making the hard choices that will break our nation’s strategic dependence on foreign sources of energy and will ensure our economic prosperity by meeting tomorrow’s demands for a clean portfolio.
John McCain has made the necessary choices – producing more power, pushing technology to help free our transportation sector from its use of foreign oil, cleaning up our air and addressing climate change, and ensuring that Americans have dependable energy sources.
John McCain will lead the effort to develop advanced transportation technologies and alternative fuels to promote energy independence and cut off the flow of oil wealth to repressive dictatorships like Iran.
“In recent days I have set before the American people an energy plan, the Lexington Project — named for the town where Americans asserted their independence once before. And let it begin today with this commitment: In a world of hostile and unstable suppliers of oil, this nation will achieve strategic independence by 2025.”
John McCain, June 25, 2008
Read the entire speech by CLICKING HERE.
The Lexington Project consists of several parts:
Expanding Domestic Oil And Natural Gas Exploration And Production
1. Commit Our Country To Expanding Domestic Oil Exploration
2. Promoting And Expanding The Use Of Our Domestic Supplies Of Natural Gas
Taking Action Now To Break Our Dependency On Foreign Oil By Reforming Our Transportation Sector
1. Clean Car Challenge: a $5,000 tax credit for each and every customer who buys a zero carbon emission car + a graduated tax credit for lowercarbon emission vehicles
2. A $300 Million Prize To Improve Battery Technology For Full Commercial Development Of Plug-In Hybrid And Fully Electric Automobiles.
3. Flex-Fuel Vehicles (FFVs) Should Play A Greater Role In Our Transportation Sector.
4. Alcohol-Based Fuels Hold Great Promise;second generation of alcohol-based fuels like cellulosic ethanol, which won’t compete with food crops
5. Isolationist Tariffs And Wasteful Special Interest Subsidies Are Not Moving Us Toward An Energy Solution.
6. Effectively Enforce Existing CAFE Standards – penalties must compel makers to comply
Investing In Clean, Alternative Sources Of Energy
1. The U.S. Must Become A Leader In A New International Green Economy
2. Commit $2 Billion Annually To Advancing Clean Coal Technologies.3. Construct 45 New Nuclear Power Plants By 2030 With The Ultimate Goal Of Eventually Constructing 100 New Plants
4. A Permanent Tax Credit Equal To 10 Percent Of Wages Spent On R&D
5. Encourage The Market For Alternative, Low Carbon Fuels Such As Wind, Hydro And Solar Power
Protecting Our Environment And Addressing Climate Change: A Sound Energy Strategy Must Include A Solid Environmental Foundation
1. A Cap-And-Trade System That Would Set Limits On Greenhouse Gas Emissions While Encouraging The Development Of Low-Cost Compliance Options.(Read how it will work and the targets he will set)
Promoting Energy Efficiency
1.Greening The Federal Government A Priority Of His Administration.
2. Move The United States Toward Electricity Grid And Metering Improvements To Save Energy.
Addressing Speculative Pricing Of Oil
1. Understand The Role Speculation Is Playing In Our Soaring Energy Prices.
2. John McCain Does Not Support A Windfall Profits Tax.
(A windfall profits tax on the oil companies will ultimately result in increasing our dependence on foreign oil and hinder investment in domestic exploration. Jimmy Carter put a windfall profits tax in to place with little to no useful results.)