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Cleantech Investors Invest in Obama; Oil and Gas Backers Back McCain

By Kent Bernhard, Jr.
Nationaol Green News
July 29, 2008


Earth2Tech took a look at the Center For Responsive Politics' campaign donation
database and found green money people backing Obama over McCain 6-1. But the
amounts are peanuts compared to contributions from the oil and gas industries --
and there, McCain has raised more than twice as much as his Democratic opponent.

Obama has cleared $55,000 from the 25 cleantech entrepreneurs Earth2Tech found
had contributed. McCain had raised only $8,900. Obama had raised $339,216,317 by
the end of June, to McCain's $145,466,201. In June, Obama pulled in $51,818,371
to McCain's $25,871,877.

But there are a few sectors throwing more cash to McCain and his fellow
Republicans. Oil and gas is one of them.

McCain leads all candidates, including those who ran against him for the GOP
nomination, when it comes to taking money from the oil and natural gas
industries. The senator from Arizona has attracted $1,039,768 from the
industries, while Obama has received $351,550. The oil and gas industry is the
12th biggest contributor to McCain's campaign, but doesn't even crack the top 20 for Obama.

Though both major candidates say they want to cut greenhouse gas emissions and
boost alternative energy, Obama's is generally the more aggressive approach.
That's one reason cleantech entrepreneurs told Earth2Tech they support him.

Obama is calling for a cap and trade system that auctions 100 percent of
emission credits, ensuring, he claims on his campaign web site, that all
polluters pay the price for emissions. Obama says he would use some of the money
generated by allowances to invest in clean energy, energy efficiency and worker
training. Obama wants the government to invest $150 billion in biofuels
infrastructure, plug-in hybrid vehicles and promoting renewable energy
development. Obama’s goal is to reduce greenhouse gas emissions to 20 percent of
1990 levels by 2050.

McCain also supports cutting greenhouse gas emissions, through a combination of
increased efficiency, alternative energy, nuclear power and hybrid and
alternative transportation technology. But he has also reversed his longtime
position to come out strongly in favor of drilling for oil off the east and west coasts.

 

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