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Summary:

No wonder cleantech investors are standing behind Obama in droves. In his monumental speech accepting the Democratic nomination for president at the Democratic National Convention, Barack Obama pledged that the U.S. will end its dependence on oil from the Middle East within the next 10 years. […]

No wonder cleantech investors are standing behind Obama in droves. In his monumental speech accepting the Democratic nomination for president at the Democratic National Convention, Barack Obama pledged that the U.S. will end its dependence on oil from the Middle East within the next 10 years.

In an effort to achieve that goal, Obama said, he would turn to natural gas resources, invest in clean coal technology, find safe ways to tap nuclear power, help the auto industry deliver more efficient cars, and help consumers buy these greener cars. He repeated his strategy to invest $150 billion over the next decade in renewable energy solutions — wind, solar and next-generation biofuels — which he says will create 5 million green jobs that “can’t be outsourced.” He also defined his position on offshore drilling calling it a “stop-gap measure, not a long-term solution.”

For all the critics who doubted Obama could get tough, he also hit Republican presumptive presidential nominee John McCain’s record on energy and oil:

Washington’s been talking about our oil addiction for the last 30 years, and by the way John McCain’s been there for 26 of them. And in that time, he’s said no to higher fuel-efficiency standards for cars, no to investments in renewable energy, no to renewable fuels. And today, we import triple the amount of oil that we had as the day that Sen. McCain took office.

For a closer look at Obama’s energy and cleantech policies check out the town-hall style discussion next week in San Francisco, which features a variety of politicians and investors that back Obama’s cleantech plan, as well as Obama’s Energy and Environmental Policy Staff Adviser Heather Zichal.

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  1. Barack Obama pledged that the U.S. will end its dependence on oil from the Middle East within the next 10 years.

    Can anyone explain what that means? Does he mean reducing US oil consumption by the amount that we currently import from Saudi Arabia or is he talking about something else?

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