Obama shifts Position on Oil Drilling; At Odds with Democrats

Speaking in Michigan, home to the US carbon based car industry, Obama said new energy policy must depend on domestic resources. His plan: a combination of renewable, coal, oil and nuclear, costing 150 billion dollars in ten years.  

"If I am President, I will immediately direct the full resources of the federal government and the full energy of the private sector to a single, overarching goal – in ten years, we will eliminate the need for oil from the entire Middle East and Venezuela."

To do so, he would deploy a combination of incentives and tax credits to businesses and consumers. The goal: 1 million hybrid cars that go 150 miles per gallon, double the amount of energy from renewable energy, and the promote energy conservation, all with in a 6 years.  

Obama says implementation would put the US on a path to reduce carbon emissions by 80 percent in 50 years. 

In addition to laying out his own plan, Obama signaled he'd support more offshore drilling to move past a Washington stalemate, a compromise proposal offered last week by 5 Republicans and 5 Democratic Senators.

"Washington finally made some progress in this. It's a plan that will invest in renewable fuels and fuel efficient cars. Like all compromises this has it's drawbacks. A limited amount of off shore drilling. I'm willing to consider it if it's going to pass."

The Gang of Ten compromise would greatly expand alternative energy, provide nuclear subsidies, and expand offshore drilling.

Republican John McCain has recently adopted an adamant more US drilling policy. He supports more subsidies for oil companies. 

"And another vital part of that is offshore drilling. We have to drill here and we have to drill now. Not wait and see if there's areas to be explored, not and wait and see if there's a package to be put together. But drill here and drill now."

Obama released a tv advertisement connecting McCain to the pockets of big oil.

CUT: "Now big oil is filling John McCain's campaign with 2 million dollars in contributions."

Two million dollars could be slightly inflated according to the Center for Response Politics. McCain has definitely received nearly 1 and a half million dollars from oil and gas during this election. Also according to the Center for Responsive Politics, Obama too received money from oil and gas, far less than McCain, but nearly half a million dollars.   

PART 2

Environmental groups, who have largely endorsed Barack Obama, are displeased with his possible support of a compromise that includes more drilling.  We speak with Nick Berning is with Friends of the Earth Action.