McCain, Obama Battle over Energy Solutions

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WASHINGTON - As tapped-out consumers cut back on expenses to pay rising fuel tabs, the energy debate dominates the campaign trail. 

Democrat Barack Obama is chastising oil companies for raking in profits, as Americans fork over $4.00 per gallon for gas at the pump.

Click play to hear Gordon Robertson's comments following this CBN News report.

"No U.S. corporation ever made that much in a quarter," Obama said, referencing Exxon Mobile's huge $11.68 billion profit. "But while Big Oil is making record profits, you are paying record prices at the pump and our economy is leaving working people behind."

Seizing on a Thursday report showing Exxon Mobil's record second-quarter earnings, Obama blasted John McCain's push to permit drilling for oil offshore.

Obama calls the McCain plan a short-term fix that reads like an "oil-company wish list" and will have little impact on energy costs.

"It won't lower prices today. It won't lower prices during the next administration. In fact, we won't see a drop of oil from this drilling for almost 10 years," Obama said.

McCain nicknamed Obama the "dr. No" of energy production for his focus on alternative fuels as the solution to rising energy costs and his opposition to offshore exploration to cut America's dependence on foreign oil.

With the recent surge of grassroots support in favor of domestic drilling, McCain says it must be a part of the nation's energy strategy.

"I believe every energy source needs to be part of solution," McCain said. "We need to develop new alternative energies like wind, solar, bio fuels, but we also need to develop more existing energies like nuclear power and clean coal. Nuclear power is safe. Clean coal is vital."

The energy battle is just as bitter on Capitol Hill, where Democrats are refusing to allow votes on legislation to lift bans on oil and gas drilling in coastal waters.

It looks like lawmakers are leaving Washington for their five-week summer recess, still in gridlock, and with no progress on solving America's energy woes.

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CBN News
Melissa Charbonneau

Melissa Charbonneau

CBN News White House Correspondent

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