OPINION: McCain, Obama's Energy Policies Lack Power

When it comes to energy policy, both presidential candidates agree on the uselessness of politicians in Washington.

Sen. Barack Obama (D., Ill.) acknowledged bluntly on Monday that he Sen. John McCain (R., Ariz.) both see the political deadlock the same way:

"I couldn't agree more with the explanation that Senator McCain offered a few weeks ago. He said, "Our dangerous dependence on foreign oil has been thirty years in the making, and was caused by the failure of politicians in Washington to think long-term about the future of the country."

That doesn't bode well for real policy change no matter which candidate wins the White House. National concern over $4-a-gallon gas makes the issue unavoidable, however. A recent poll by Quinnipiac University shows voters in swing states care more about energy policy than they do about Iraq.

The discussion for both candidates begins with the importance of energy security and the dangers of global warming. They remark on working to wean America off of foreign oil, in particular from Arab countries and Venezuela, which could be difficult. America produces 3% of the world's oil but uses 25%. Both have called for tighter regulation of oil markets to stop speculators. Furthermore, they encourage carbon emissions reductions with a cap-and-trade system.

So, they focus on renewable energy as the answer. Obama proposes a $150 billion investment in green technology over a 10 year period. The effort would be a public-private venture. He hopes to spur 5 million new jobs, many of which would come in the high-paying manufacturing sector.