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HOUSTON, TX — As American consumers cope with more than $4-a-gallon gasoline, Sen. John McCain called for ways to increase the nation’s energy capacity, including lifting a ban on off-shore oil drilling, while also stressing the importance of conservation.
“America’s most vital interests call us to the mission of energy security, and so does our sense of honor. And the straightest, swiftest path to energy security is to produce more, use less, and find new sources of power — so that no commodity can determine our security, and no crisis can undermine our economy,” McCain said before a crowd of more than 300 supporters, local business leaders and a handful of oil company executives.
Among his major initiatives, as disclosed yesterday to reporters, is the removal of the federal moratorium on states’ abilities to explore and drill for oil and natural gas off of their coasts.
“For reasons that become less convincing with every rise in the price of foreign oil, the federal government discourages offshore production,” he said, calling for profit sharing between states and the federal government. “We have proven oil reserves of at least 21 billion barrels in the United States. But a broad federal moratorium stands in the way of energy exploration and production. And I believe it is time for the federal government to lift these restrictions and to put our own reserves to use…as a matter of fairness to the American people, and a matter of duty for our government, we must deal with the here and now, and assure affordable fuel for America by increasing domestic production.”
McCain has pounced on a popular issue with voters across the country–even though it is extremely unlikely that California or Florida, both states with known coastal deposits, will initiate any deep-water drilling.
The presumptive GOP nominee also attacked Sen. Obama for what he says is the revival of 60’s and 70’s ideas–a new favorite line on the stump–beating up his rival for opposing new domestic production and for his call for a windfall profits tax on oil companies.
“He supports new taxes on energy producers. He wants a windfall profits tax on oil, to go along with the new taxes he also plans for coal and natural gas. If the plan sounds familiar, it’s because that was President Jimmy Carter’s big idea too — and a lot of good it did us,” he said to a chorus of boos from the crowd. “Now as then, all a windfall profits tax will accomplish is to increase our dependence on foreign oil, and hinder exactly the kind of domestic exploration and production we need. I’m all for recycling — but it’s better applied to paper and plastic than to the failed policies of the 1970’s.”
For his part, Obama attacked McCain today for flipping on the the drilling issue, since the GOPer opposed off shore drilling during his 2000 race.
“This is yet another reversal by John McCain in terms of his earlier positions and I think we could set up an interesting debate between John McCain 2000 and John McCain 2008,” Obama told reporters. “The biggest problem with John McCain’s position is that it seems like a classic Washington political solution which is to go out there and make a statement without any clear evidence that this would result in strengthening the US economy or providing relief to consumers. There is no way that allowing offshore drilling would lower gas prices right now at best you’re looking at 5 years or more down the road and even the most optimistic assumptions indicate that offshore drilling might reduce the overall world price of oil by a few cents so this is not something that’s gonna give consumers short-term relief and it is not a long-term solution to our problems.”
The campaign says Tuesday’s address was the first in what will be a series of a speeches on energy.