ARLINGTON, VA -- U.S. Senator John McCain's presidential campaign released television ad entitled "Pump." The ad highlights Barack Obama's opposition to initiatives that will help to lower gas prices and achieve energy independence. Barack Obama opposes more drilling in America, expanding nuclear energy use and incentives to spark electric-car research. Unlike Barack Obama, John McCain has proposed a comprehensive, balanced plan to achieve energy independence -- the Lexington Project -- that supports more drilling, expands the use of nuclear energy, encouraging more research while investing in alternative energy sources. The ad will air on national cable and in key states.
Script For "Pump" (TV :30)
ANNCR: Gas prices - $4, $5, no end in sight, because some in Washington are still saying no to drilling in America.
No to independence from foreign oil.
Who can you thank for rising prices at the pump?
CHANT: Obama, Obama
ANNCR: One man knows we must now drill more in America and rescue our family budgets.
Don't hope for more energy, vote for it. McCain.
JOHN MCCAIN: I'm John McCain and I approve this message.
AD FACTS: Script For "Pump" (TV :30)
ANNCR: Gas prices - $4, $5, no end in sight, because some in Washington are still saying no to drilling in America.
On July 20, 2008, Average Gasoline Prices Were $4.07. (AAA Website, http://www.fuelgaugereport.com/, Accessed 7/20/08)
In Parts Of The Country, Gas Prices Are Over $5 A Gallon. "The president's announcement comes as public pressure intensifies to do something about gas prices that have gone over $5 a gallon in some parts of the state." (Dena Bunis, "Petroleum Power Play," The Orange County Register, 7/15/08)
Barack Obama Opposes Lifting The Ban On Offshore Drilling. Obama: "The politics may have changed, but the facts haven't. The accuracy of Sen. McCain's original position has not changed: Offshore drilling would not lower gas prices today, it would not lower gas prices next year and it would not lower gas prices five years from now." (Sen. Barack Obama, Remarks At Press Availability, Jacksonville, FL, 6/20/08)
ANNCR: No to independence from foreign oil. Who can you thank for rising prices at the pump? CHANT: Obama, Obama
Barack Obama Said He's Fine With A Gradual Increase In Gas Prices. Obama: "Well, I think that we have been slow to move in a better direction when it comes to energy usage. And the president, frankly, hasn't had an energy policy. And as a consequence, we've been consuming energy as if it's infinite. We now know that our demand is badly outstripping supply with China and India growing as rapidly as they are. So..." CNBC's John Hardwood: "So could these high prices help us?" Obama: "I think that I would have preferred a gradual adjustment. The fact that this is such a shock to American pocketbooks is not a good thing." (CNBC's "Your Money, Your Vote," 6/10/08)
Barack Obama Called John McCain's $300 Million Prize For A Better Battery A "Gimmick." Obama: "In this campaign, John McCain is offering the same old gimmicks that will provide almost no short-term relief to folks who are struggling with high gas prices. Gimmicks that will only increase our addiction for another four years." (Sen. Barack Obama, Remarks At Campaign Event, Las Vegas, NV, 6/24/08)
Barack Obama Has Criticized Expanding Nuclear Power. Obama: "That might make sense in Washington, but it doesn't make sense for America. In fact, it makes about as much sense as his proposal to build 45 new nuclear reactors without a plan to store the waste some place other than, guess where? Right here in Nevada at Yucca Mountain." (Sen. Barack Obama, Remarks At Campaign Event, Las Vegas, NV, 6/24/08)
FactCheck.org's Brooks Jackson: "No Guarantee" That Barack Obama's Sole Energy Proposal "Would Actually Reverse The Growth Of Oil Imports." "We also point out that even over the long term there can be no guarantee that just spending more for research will produce the sort of new fuels, vehicles or other breakthroughs that would actually reverse the growth of oil imports. Keep in mind that the U.S. imported the equivalent of 13.4 million barrels of oil per day last year, up nearly 17 percent from just five years earlier and 32 percent higher than in 1997. This is a huge problem that has been getting worse for a long time. Reversing it will not be 'fast' or painless." (Brooks Jackson, "Straining A Point," FactCheck.org, 7/17/08)
Barack Obama's Energy Plan Relies On A Tax Increase Proven To Fail. "Obama often criticizes big oil and a big part of his energy plan revolves around higher taxes on oil companies, to help fund R & D for new energy technologies, to pay for tax credits for some consumers, even to spur exploration. Oil companies have faced a windfall profit tax before in the 1970s. The tax was repealed in the '80s. Why? Because a lot of people felt it wasn't raising enough revenue, Wolf, that it was an administrative headache and at the end of the day, oil exploration was going down when it need to be going up." (CNN's "Situation Room," 6/26/08)
ANNCR: One man knows we must now drill more in America and rescue our family budgets. Don't hope for more energy, vote for it. McCain. JOHN MCCAIN: I'm John McCain and I approve this message.
John McCain Proposed Lifting The Ban On Offshore Drilling And Letting States Decide If They Wanted To Explore And Drill For Energy. McCain: "But I also believe that lifting the moratoria from offshore drilling or oil and natural gas exploration is something that we should place as a very high priority. And again, I don't want to dictate to the states what they should do, but I think that the states can be provided with additional incentives such as a greater share of the revenues than is presently the case." (Sen. John McCain, Remarks At Press Availability, Arlington, VA, 6/16/08)
USA Today: "McCain Trumps Obama By Calling For More Offshore Drilling To Increase U.S. Supplies." "McCain trumps Obama by calling for more offshore drilling to increase U.S. supplies. Obama complains that it wouldn't cut pump prices now and might eventually add only a small amount to world supplies, which is true but misses the point. Increasing U.S. supply and cutting imports while the nation shifts away from oil is a worthwhile goal." (Editorial, "Mccain + Obama = A Valid Energy Plan," USA Today, 7/3/08)
The New Hampshire Union-Leader: "On the issue of whether to pursue domestic offshore oil drilling to further U.S. national interests, U.S. Sen. John McCain's position wins hands down over that of U.S. Sen. Barack Obama. McCain wants to lift a decades-long ban that has prevented much of such drilling. Obama wants to keep it in place." (Editorial, "Energy Election: McCain Wins Over Obama," The New Hampshire Union-Leader, 6/20/08)
CNN's Frank Sesno: "Expectations Of More Production Can Send Prices Down." FRANK SESNO: "Obama's criticized McCain for saying more drilling would have a positive psychological impact. But there is psychology in energy markets, worries about soaring demand in China or supply disruptions in Nigeria send prices up. Expectations of more production can send prices down." (CNN's "Situation Room," 6/26/08)
Harvard Professor And Former Council Of Economic Advisors Chairman Martin Feldstein: "Increasing The Expected Future Supply Of Oil Would Also Reduce Today's Price." "Any policy that causes the expected future oil price to fall can cause the current price to fall, or to rise less than it would otherwise do. In other words, it is possible to bring down today's price of oil with policies that will have their physical impact on oil demand or supply only in the future. For example, increases in government subsidies to develop technology that will make future cars more efficient, or tighter standards that gradually improve the gas mileage of the stock of cars, would lower the future demand for oil and therefore the price of oil today. Similarly, increasing the expected future supply of oil would also reduce today's price. That fall in the current price would induce an immediate rise in oil consumption that would be matched by an increase in supply from the OPEC producers and others with some current excess capacity or available inventories. Any steps that can be taken now to increase the future supply of oil, or reduce the future demand for oil in the U.S. or elsewhere, can therefore lead both to lower prices and increased consumption today." (Martin Feldstein, Op-Ed, "We Can Lower Oil Prices Now," The Wall Street Journal, 7/1/08)
TheStreet.com's Eric Bolling: "Certain People In Congress Would Have Us Believe That Those Barrels Are 10-Plus Years Away From Our Refiners' Cracking Towers. That's Just Not True. ... [W]e Could Realize Oil In As Little As A Year And As Far Into The Future As Six Years For Those Really Remote Reservoirs." "We have billions upon billions of barrels and gas equivalents of oil available to the world. In fact, we have billions upon billions available to us in the U.S. We have an estimated 18 billion barrels off the Outer Continental Shelf. Certain people in Congress would have us believe that those barrels are 10-plus years away from our refiners' cracking towers. That's just not true. I told you about the conversations I had with TransoceanRIG officers and their time frames for that oil in the last column. I have since confirmed that opinion with other big-time ocean drillers, and the picture remains as clear as it was last we ek. It would take anywhere from one to six years to produce a barrel from the Outer Continental Shelf. That's right, we could realize oil in as little as a year and as far into the future as six years for those really remote reservoirs. These are barrels we need now and will certainly need in the future. These are barrels that currently rest under a drilling moratorium. These are barrels that the next president should release as soon as possible." (Eric Bolling, "How To Solve The Oil Crisis," TheStreet.com, 6/25/08)
John McCain Called For A $300 Million Prize For A Next Generation Battery. McCain: "I further propose we inspire the ingenuity and resolve of the American people by offering a $300 million prize for the development of a battery package that has the size, capacity, cost and power to leapfrog the commercially available plug-in hybrids or electric cars." (Sen. John McCain, Remarks At Campaign Event, Fresno, CA, 6/23/08)
USA Today: McCain's Prize For A Better Battery Is "Smarter Than More Bureaucratic Approaches." "$300 million battery prize. Obama derides this as a gimmick, but McCain's idea for developing a radically better battery for powering a new generation of cars strikes us as smarter than more bureaucratic approaches. Like the X-Prize that helped propel the first civilian aircraft into space, a reward can leverage huge private investment. The idea would be better, though, if it focused on building radically more fuel-efficient cars regardless of the technology." (Editorial, "Mccain + Obama = A Valid Energy Plan," USA Today, 7/3/08)
John McCain Has Proposed Building 45 New Nuclear Plants. McCain: "So, if I am elected president, I will set this nation on a course to building 45 new reactors by the year 2030, with the ultimate goal of 100 new plants to power the homes and factories and cities of America." (Sen. John McCain, Remarks At Campaign Event, Springfield, MO, 6/18/08)
FactCheck.org: "Obama's Energy Plan Contains No Such [Nuclear Energy] Initiative" Comparable To John McCain's Plan. "But it's true McCain is more aggressive in his support of nuclear power, giving it a prominent place in his energy plan, with the goal of creating 45 new nuclear power plants by 2030 and as many as 100 total. Obama's energy plan contains no such initiative." (Emi Kolawole, "A False Accusation About Energy," FactCheck.org, 7/9/08) ###
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