Obameter

Tracking Obama's promises

Will "reduce oil consumption overall by at least 35 percent, or 10 million barrels of oil, by 2030."

"Will establish a National Low Carbon Fuel Standard (LCFS) to speed the introduction of low-carbon non-petroleum fuels. The standard requires fuels suppliers in 2010 to begin to reduce the carbon of their fuel by 5 percent within 5 years and 10 percent within 10 years. The Obama-Biden plan will incentivize increased private sector investment in advanced low-carbon fuels and has a sustainability provision to ensure that increased biofuels production does not come at the expense of environmental conservation. The LCFS is an important mechanism in ensuring that our efforts to reduce our oil dependence also reduce carbon emissions."

Will "require 10 Percent of electricity to come from renewable sources by 2012. Barack Obama and Joe Biden will establish a 10 percent federal Renewable Portfolio Standard (RPS) to require that 10 percent of electricity consumed in the U.S. is derived from clean, sustainable energy sources, like solar, wind and geothermal by 2012."

"Will create a federal Renewable Portfolio Standard (RPS) that will require 25 percent of American electricity be derived from renewable sources by 2025, which has the potential to create hundreds of thousands of new jobs on its own."

"Will . . . extend the federal Production Tax Credit (PTC) for 5 years to encourage the production of renewable energy."

"Will require oil companies to take a reasonable share of their record-breaking windfall profits and use it to provide direct relief worth $500 for an individual and $1,000 for a married couple. The relief would be delivered as quickly as possible to help families cope with the rising price of gasoline, food and other necessities. The rebates would be fully paid for with five years of a windfall profits tax on record oil company profits."

"Will swap oil from the Strategic Petroleum Reserve to cut prices . . . a limited, responsible swap of light oil from the Strategic Petroleum Reserve (SPR) for heavy crude oil to help bring down prices at the pump."

Will close "loopholes" in Commodity Futures Trading Commission regulations that have contributed to the skyrocketing price of oil on world markets. "Will enact simple legislation to close these loopholes and increase transparency on the market to help bring oil prices down and prevent traders from unfairly lining their pockets at the expense of the American people."

"Will increase fuel economy standards 4 percent per year ... ."

"A "Use it or Lose It" Approach to Existing Leases. Oil companies have access to 68 million acres of land, over 40 million offshore, which they are not drilling on. Drilling in open areas could significantly increase domestic oil and gas production. Barack Obama and Joe Biden will require oil companies to diligently develop these leases or turn them over so that another company can develop them."

Will "speed up the process of recovering oil and gas resources in shale formations in Montana and North Dakota; Texas and Arkansas and in parts of the West and Central Gulf of Mexico."

"Will make a national commitment to weatherize at least 1 million low-income homes each year for the next decade, which can reduce energy usage across the economy and help moderate energy prices for all."

"Will enter into public private partnerships to develop five 'first-of-a-kind' commercial scale coal-fired plants with clean carbon capture and sequestration technology."

"Will work with the Canadian government, state of Alaska, oil and gas producers, and other stakeholders to facilitate construction of the pipeline. Not only is this pipeline critical to our energy security, it will create thousands of new jobs."

"Will re-engage with the U.N. Framework Convention on Climate Change (UNFCC) – the main international forum dedicated to addressing the climate problem . . . will also create a Global Energy Forum of the world's largest emitters to focus exclusively on global energy and environmental issues."

"Will set a hard cap on all carbon emissions at a level that scientists say is necessary to curb global warming - an 80% reduction by 2050. To ensure this isn't just talk, I will also commit to interim targets toward this goal in 2020, 2030, and 2040. These reductions will start immediately, and we'll continue to follow the recommendations of top scientists to ensure that our targets are strong enough to meet the challenge we face."

"I will invest $150 billion over the next 10 years - $15 billion a year - to put America on the path of true energy security. This fund will fast-track investments in a new green energy business sector that will end our addiction to oil and create up to 5 million jobs over the next two decades."

"We'll invest in research and development of every form of alternative energy - solar, wind, biofuels."

"We will leverage private sector funding to bring these cars directly to American consumers. We'll give consumers a $7,000 tax credit to buy these vehicles."

"Will call on businesses, government and the American people to meet the goal of reducing our demand for electricity 15 percent by the end of the next decade."