John McCain may have just given the best speech of his life. He covered all the salient points necessary for a well-planned energy policy. Look for much more from McCain on this subject in the future. It is one issue that he kills Obama on. Here are a few selected paragraphs of his speech:
People are hurting, small farmers, truckers, and taxi drivers unable to cover their costs, small business owners struggling to meet payroll, the cost of living rising and the value of paychecks falling. All of this, in large part, because the price of oil is too high, and the supply of oil too uncertain. These citizens believe their government has a duty to finally assure the energy security of this country, and they are right.
Somehow the United States -- in so many ways the most self-reliant of nations -- has allowed and at times even encouraged this state of affairs. This was a troubling situation 35 years ago. It was an alarming situation twenty years ago. It is a dangerous situation today. And starting in the term of the next president, we must take control over our own energy future, and become once again the master of our fate.
What is certain in energy policy is that we have learned a few clear lessons along the way. Somehow all of them seem to have escaped my opponent. He says that high oil prices are not the problem, but only that they rose too quickly. He doesn't support new domestic production. He doesn't support new nuclear plants. He doesn't support more traditional use of coal, either.
So what does Senator Obama support in energy policy? Well, for starters he supported the energy bill of 2005 -- a grab-bag of corporate favors that I opposed. And now 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. 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.
I once heard from a wise old man that "you know the best compromise has been reached when all sides leave the table frowning." I really could care less about "global warming" and he could have left that part out. I suppose this is the compromise I have to accept. See me frown.
I encourage you all to read this speech in it's entirety here. It is very well worth the effort.