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MortgageMan
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Obama just realized that high oil prices are affecting all Americans. Man he's smart. I posted part of the article but you can read all of it by clicking the link.
http://elections.foxnews.com/2008/08/04/obama-ad-windfall-tax/
Barack Obama unveiled another shift in his energy policy Monday, reversing his opposition to tapping the nation?s strategic petroleum reserve as a means of lowering gasoline prices.
During a speech in Lansing, Mich., Obama said he'd like to release up to 10 percent of the 700 million barrels of oil kept in salt caverns in Texas and Louisiana. Obama also called for a revival of the windfall profits tax on oil companies.
?We meet at a moment when this country is facing a set of challenges greater than any that we have seen in generations. ? And for too long, our leaders in Washington have been unable or unwilling to do anything about it,? Obama said.
Among the short-term parts of his plan, Obama said: ?We should sell 70 million barrels of oil from our Strategic Petroleum Reserve for less expensive crude, which in the past has lowered gas prices within two weeks.?
Obama also called for more land to be leased in the National Petroleum Reserve in Alaska, he said ?we should also tap more of our substantial natural gas reserves,? and called for collaboration with Canada to build an Alaska natural gas pipeline.
His long-term solutions included the windfall profits tax, investing in hybrid-electric technology, and renewable fuels.
The shift in Obama?s energy policy follows comments over the weekend that he would be open to limited proposals for new offshore drilling. The change drew a charge of flip-flopping from John McCain?s campaign
Earlier this year, Obama supported capping new additions to the reserve as a way to ease pressure on gasoline prices, but not specifically tapping into the reserve. In July, he said he didn't support tapping the reserve, saying it only should be used in a ?genuine emergency.?
But increasing fuel costs have led some Democrats ? chiefly House Speaker Nancy Pelosi ? to look to the oil reserve for fresh supplies.
Obama campaign spokeswoman Heather Zichal said that while Obama didn't initially support tapping the reserve, he has reconsidered. ?He recognizes that Americans are suffering,? she said.
http://elections.foxnews.com/2008/08/04/obama-ad-windfall-tax/
Barack Obama unveiled another shift in his energy policy Monday, reversing his opposition to tapping the nation?s strategic petroleum reserve as a means of lowering gasoline prices.
During a speech in Lansing, Mich., Obama said he'd like to release up to 10 percent of the 700 million barrels of oil kept in salt caverns in Texas and Louisiana. Obama also called for a revival of the windfall profits tax on oil companies.
?We meet at a moment when this country is facing a set of challenges greater than any that we have seen in generations. ? And for too long, our leaders in Washington have been unable or unwilling to do anything about it,? Obama said.
Among the short-term parts of his plan, Obama said: ?We should sell 70 million barrels of oil from our Strategic Petroleum Reserve for less expensive crude, which in the past has lowered gas prices within two weeks.?
Obama also called for more land to be leased in the National Petroleum Reserve in Alaska, he said ?we should also tap more of our substantial natural gas reserves,? and called for collaboration with Canada to build an Alaska natural gas pipeline.
His long-term solutions included the windfall profits tax, investing in hybrid-electric technology, and renewable fuels.
The shift in Obama?s energy policy follows comments over the weekend that he would be open to limited proposals for new offshore drilling. The change drew a charge of flip-flopping from John McCain?s campaign
Earlier this year, Obama supported capping new additions to the reserve as a way to ease pressure on gasoline prices, but not specifically tapping into the reserve. In July, he said he didn't support tapping the reserve, saying it only should be used in a ?genuine emergency.?
But increasing fuel costs have led some Democrats ? chiefly House Speaker Nancy Pelosi ? to look to the oil reserve for fresh supplies.
Obama campaign spokeswoman Heather Zichal said that while Obama didn't initially support tapping the reserve, he has reconsidered. ?He recognizes that Americans are suffering,? she said.
