A Crucial Question for the Candidates

While filling up your car at the gas station no longer produces as much anxiety as a trip to the dentist, an overall lowering of prices at the pump has pushed the presidential candidates' energy positions to the background. The truth is that the next president will have to address America's energy needs soon after taking office in January.

Don't let the current reprieve fool you. We cannot keep sending hundreds of billions of dollars to shaky or openly hostile governments; nor can we continue to be held hostage to their whims.

The ban on offshore drilling has expired for now, thanks to Congress' gutless desire to not fight that battle just before the election. But, oil companies will not rush in to start new exploratory drilling offshore with the specter of a re-issued ban after January 20.

So, once again, we consumers are held hostage by a bunch of do-nothing legislators.

Obviously, unless "none of the above" wins, either Barack Obama or John McCain will be elected in the coming weeks, so it's important to know what their positions are on the crucial question of energy.

We've dug deep into their proposals for you, and here's where the two candidates stand on five important issues:

Drilling

Both candidates have agreed that drilling in the Arctic National Wildlife Refuge is not up for discussion, even though Senator McCain's running mate, Alaska Governor Sarah Palin, says, "Drill, baby, drill!"

Obama believes that the gas and oil companies should be drilling in areas already leased, such as in the Gulf of Mexico. And, if a bipartisan agreement could be reached, he would support new drilling in a small piece of the Outer Continental Shelf, an area of 176 billion acres. But his support on this new drilling would come only if oil and gas companies commit to new technologies and efficiencies in clean energy.

McCain, on the other hand, supports a complete lifting of the ban on the Outer Continental Shelf.

Experts don't seem to know how much oil and gas might be found there or its possible impact on the lowering of energy prices.

Renewable Energy

McCain proposes a tax credit for companies that do research on renewable energy, and he also opposes subsidies for ethanol and the tariff on sugar-based ethanol, which makes importation of sugar-based ethanol from Brazil too costly.

Obama has proposed expenditures of $150 billion over a 10-year period for the development of solar, wind and other forms of renewable energy. He also supports subsidies for ethanol and a tariff on sugar-based ethanol.

Next: Lowering Energy Prices for Consumers