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Monday, August 04, 2008

Obama Announces New Energy Plan

Presidential candidate Barack Obama (D-Il) announced his new energy plan in Lansing, Michigan today and it will:

Provide short‐term relief to American families facing pain at the pump by providing an "emergency energy rebate" that would give individual citizens $500 and families $1,000 to help them cope with high gas prices -- paid for by a "windfall profits tax" on oil companies.

Help create five million new jobs by strategically investing $150 billion over the next ten years to catalyze private efforts to build a clean energy future.

Within 10 years save more oil than we currently import from the Middle East and Venezuela combined.

Put 1 million Plug‐In Hybrid cars –cars that can get up to 150 miles per gallon –on the road by 2015, cars that we will work to make sure are built here in America.

Ensure 10 percent of our electricity comes from renewable sources by 2012, and 25 percent by 2025.

Implement an economy‐wide cap‐and‐trade program to reduce greenhouse gas emissions 80 percent by 2050.

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