Energy: The Deciding Issue?
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Energy is shaping up to be the deciding issue for the 2008 presidential election. Even John McCain knows it: on Monday he announced that, as President, he would institute a $300 million prize for a more efficient car battery for hybrid and electric vehicles. I spent yesterday wondering if Barack Obama was going to turn it into a bidding war, perhaps announcing a $400 million prize for cheap solar cells. He hasn’t, but both candidates are both very aware that if either one can chart a clear path through our current energy crisis, that candidate can guarantee his election.
As things currently stand, Obama seems to have a decent lead. If you’re willing to take Intrade.com’s bets as an indicator of a candidates actual lead, Obama may be leading by as much as 100 electoral votes. I don’t trust those figures enough to put my money on it, but it’s still an interesting number. That might not be too big of a gap for McCain, though, if he can pull out an energy plan that can drastically reduce Americans’ electricity bills and gas receipts.
Today, though, the only energy proposal standing out between the two men’s plans is that $300 million prize. Sure, there has been plenty of talk of ideas like a summer gas tax and things like that, but, in general, both McCain and Obama are in favor of developing green jobs, improving America’s energy independence and limiting carbon emissions. And both of their plans are long-term. While change will certainly take time, both Obama are talking about deadlines in 2030 or 2050 for most of their proposals: McCain’s cap-and-trade plan stretches out to 2050. So does Obama’s cap-and-trade plan.
Energy, whether in the form of gasoline or electricity, is taking up a bigger chunk of both our personal and business budgets. While I’m not going to switch political parties just for a good energy plan, I might think hard about changing my mind if either candidate comes up with a more immediate response.
