U.S. Republican presidential hopeful John McCain has outlined hislatest proposals to fight global warming and reduce American dependenceon foreign oil.
In a town hall meeting Monday in Fresno,California, Senator McCain called on auto manufacturers to speed up theprocess of converting engines to use alcohol-based fuels. He proposeda $5,000 tax credit for each consumer who buys a zero-emissions car,and higher fines for automakers who evade existing fuel-efficiencystandards.
Questioned by an audience member about nuclear power,he said the United States has to have it in order to reduce greenhousegases.
On Sunday, Obama proposed a clampdown on energy speculation, which hesays is largely responsible for record-high oil prices. His proposalwould close a legal provision that exempts energy commodities fromgovernment oversight.
Obama's proposal would close a legal provision that exempts energy commodities from government oversight.
Criticssay the deregulation measure, signed in 2000 by then-President BillClinton, opened the way to uncontrolled speculation in the oil markets.
Thehigh price of gasoline in the United States is a prominent campaignissue. McCain wants Congress to lift a ban on offshore oil drilling tohelp ease the costs, while Obama says such a measure would not help theproblem in the short term.