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McCain wants $30B for clean-coal research, 45 new nuclear reactors
in-en.com  2008-6-26 14:31:50  

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Republican presidential nominee John McCain derided Democratic plans to sue OPEC over high oil prices and the Bush administration's pleas to Saudi Arabia to boost oil production.

The Arizona senator said Wednesday that asking the Saudi to boost production shows weakness and questioned the validity of Democratic proposals to sue the OPEC oil cartel for antitrust violations.

President Bush and Vice President Dick Cheney both asked the Saudis to up oil exports.

McCain also said Wednesday he would dedicate $30 billion over the next 15 years to develop cleaner energy use of coal and wants the U.S. to build 45 nuclear reactors by 2030.

Such efforts are aimed at reducing U.S. dependence on foreign oil while dealing with global warming, McCain said in a speech in Las Vegas.

Rising crude oil and gasoline prices spark high food prices and burden businesses and consumers.

The issue is fast becoming a centerpiece in the presidential race between Obama and McCain.

McCain favors more domestic oil and gas exploration and is offering a $300 million prize to develop hybrid, flex-fuel and electric car batteries. Obama wants to tax oil company profits and parlay that money into middle-class tax relief.


 
Author:Phoenix Business Journal  From:Phoenix Business Journal  Edit:steven
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