Tuesday, June 10, 2008

Oil Crisis: Obama vs. Mccain

Whoever wins the White House this fall WILL spend more time tackling energy challenges than any other president in history.

The energy policies of Barack Obama and John McCain differ widely and voters can bet on some spirited political debate.

McCain would mandate reductions in greenhouse gasses, then largely rely on the free market to spur conservation. In order to ease the pain of high gas prices he also wants to suspend the federal gas tax.

Obama would tax oil companies and use the money to help low income people. He would also restrict greenhouse gasses, but charge more for companies to pollute and use the money to fund renewable energy research. He also sees a bigger role for government in encouraging conservation.

CNNMoney.com asked the candidates questions which we feel are central to solving the world's energy challenge. Here's what they said: