The high cost of energy is becoming a key issue in the race for the White House as campaigning is intensifying for the elections in November. Senator Obama has admitted that Americans are suffering. His proposal includes a series of measures that aim to decrease the ‘oil addiction’ of America, which the senator considers ‘the greatest challenge’ of his generation.
To ease the most immediate problem by lowering fuel prices, Mr Obama proposes to release 70 million barrels of crude oil held in federal stockpiles. He has also called for a further $1,000 rebate on fuel for low and middle-income families, which would be paid for by the windfall tax levied on oil companies.
(Source: MTI)
The commitment of the US to generate 10% of its electricity from renewable sources by 2012 and 25% by 2025 is part of Senator Obama’s long-term energy strategy. He also promotes the idea of putting one million fuel-efficient hybrid cars on the road by 2015. Additionally, an investment of $150bn over the next ten years would create five million new jobs to help private efforts on clean energy.
Mr Obama has also modified his position on the possibility of exploring oil reserves off the US coast. He said he would allow limited drilling, if environmentally sound, as part of his compromise energy package.
The plan was revealed when a further oil price fall hit the headlines of the papers. US crude oil fell to $118 a barrel on Monday, which analysts put down to rising supplies and slowing demand. Despite the momentary good news that the price fall has caused, presidential candidates promise to focus on the long-term strategy.
Vocabulary
- unveil plans – terveket felfed
- presidential candidate – elnök-jelölt
- oil addiction – olajfüggőség
- crude oil – nyersolaj
- stockpile – raktártelep
- rebate – visszatérítés
- windfall tax – váratlan nyereségre kivetett egyszeri adó
- drilling – olaj(kút)fúrás
- hit the headlines – újságok címoldalára kerül
- put sg down to sg – betud valaminek
