On May 29, McCain said offshore drilling would have no effect in the short term. Just 18 days later, he said it would:
John McCain, June 16, 2008: Providing additional incentives for states to permit exploration off their coasts would be very helpful in the short term in resolving our energy crisis.
John McCain, May 29, 2008: But I also have to tell you that with those resources, which would take years to develop, it would only postpone or temporarily relieve our dependency on fossil fuels.
McCain’s statement in May is correct.According to the Energy Information Administration (EIA), it would take five years to get production started off shore, and in the offshore drills would increase domestic supply by 7 percent — in 22 years. The EIA describes the effect of offshore drilling, in both the short term and the long term, as “insignificant.”
So, on June 16, it appears McCain bent the truth to score a political point. If so, there really is no difference between him and George W. Bush.
Last week, the Center for American Progress Action Fund released a new report by Michael Ettlinger estimating that under McCain’s tax plan, he and his wife, Cindy, would save $373,429. That’s nearly $400,000 — per year, not over the course of their lifetimes. (Under Barack Obama’s plan, the McCains would save less than $6,000. The Obamas would save nearly $50,000 under McCain’s plan, and slightly more than $6,000 under Obama’s plan own plan.)