Joe Biden, Offshore Wind and Offshore Oil
The News Journal reports that Joe Biden went to Cape Henlopen to slam George Bush and John McCain for wanting to open up more of the country's coastline to offshore drilling:
"I think this is a last-ditch effort to go out and rape the offshore continental shelf, so that they own it and are able to use it as leverage in the future, because they know if they don't get it in the last couple of months of this administration, they're not going to get it," Biden said.
Biden prefers offshore wind to offshore oil.
"I'm proposing a five-year Apollo project for energy and climate change that would make a substantial, $50 billion investment in alternative energy and energy efficiency," Biden said.
Money for the project could come from elimination of more than $2 billion in tax breaks now available to oil producers despite continuing, massive profits, Biden said.
Investments should include federal subsidies for transmission lines to carry electrical power from new clean wind farms like Bluewater's, Biden said. National support also is needed for solar and geothermal energy, biofuels and new battery technologies.
Biden had previously pointed out that oil companies have not actually drilled in most of the offshore oil fields. As I said several weeks ago, the the energy policy created by the two oil executives who run our government has produced little more than higher prices and billions in wasted subsidies