Bush-McCain Offshore Drilling Plan Won’t Lower Costs for Colorado Families

Aurora, CO – Today, just before John McCain would showcase his latest vacillations on energy issues at a closed-door event, Democratic leaders were calling attention to the Republican Senator’s adherence to GOP (Giant Oil Party) policies, which prioritize industry profits over real progress.

“John McCain has yet to offer a plan that would reduce gas prices and improve our economy, just more of the same windfalls for oil and gas executives,” said Colorado Democratic Party Chair Pat Waak. “Proposing four billion dollars in oil industry tax breaks is not an energy plan, it’s just more of the same from a Republican Senator who has been part of the problem all along.”

The Obama energy plan will produce three times the oil savings of John McCain’s—and will actually decrease our dependence on oil while McCain’s will only grow our addiction further.

 “We understand why John McCain is energetic about pandering to his oil company cronies, but his lack of an energy plan for the future of our country are why Coloradans believe his campaign is running on empty,” said State Representative Morgan Carroll, referring to a  recently released a web video (http://www.youtube.com/watch?v=95NSWsNah60) that captures how McCain's shift to same-as-Bush language on offshore drilling won him a standing ovation from oil executives and a $1.1 million fundraising boost from Big Oil.  

McCain, who has voted against biofuels, solar power and wind power, raised more oil interest money in June 2008 than he did in the previous 18 months combined, but the Bush-McCain plan to end the ban on offshore drilling will not produce a drop of oil for seven years nor will it help consumers at the pump for years beyond that.  

In January of 2001, a regular gallon of gas in Colorado averaged $1.28 including taxes. Currently the average is $3.99, an increase of 212%. *

State Representative Nancy Todd said, “Quite simply, the ‘McCain Plan’, or lack thereof, is a cruel hoax.  Coloradans deserve real, bold solutions.  The Bush-McCain approach has had a devastating effect on our families, who are paying the price at the pump, at the grocery stores, and as they watch their homes lose value or face foreclosure.”

Barack Obama will close the loophole that allows corporations like Enron to engage in unregulated speculation that ends up artificially driving up the price of oil.  Obama’s energy plan will provide meaningful relief for our families, make a historic investment in alternative energy development, and help secure our energy independence.  Obama will also push for a second stimulus package that will send out another round of rebate checks to the American people to help struggling families pay their energy bills.   

###

*[Energy Information Administration, http://tonto.eia.doe.gov/dnav/pet/hist/d120640082m.htm; U.S. Depart. of Transportation, Federal Highway Administration, State Motor Fuel Tax Rates, http://www.fhwa.dot.gov/ohim/hs01/mf205.htm; AAA Daily Fuel Gauge Report, http://www.fuelgaugereport.com/COavg.asp, accessed 7/28/08]