Has anyone heard about the "Gang of Ten"? A group of ten Senators made up of 5 Democrats and 5 Republicans have come up with the New Energy Reform Act of 2008 that Obama is supporting and McCain is opposing. This is the reason for Obama's recent "flip-flop" on offshore drilling. The bipartisan bill will allow some drilling in the Gulf of Mexico and will allow the States of Virginia, North Carolina, South Carolina and Georgia to decide whether they want to allow drilling or not - States rights and all that. Why is McCain opposed to the Bill? Because it also proposes to fund the Bill by closing tax loopholes for petroleum companies. In Republican land, that is a tax increase. The Bill also dedicates 20 billion dollars to R&D on alternative fuels for motor vehicles and extends tax incentives for the purchase of hybrid vehicles.
So here is a Bill supported by both Democrats and Republicans in a bipartisan fashion. Just what everyone wants to happen, except John McCain.
Read more about this Bill at Sen. Kent Conrad's website.
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