John McCain

thank you all veri much __PUNCT__

dr __PUNCT__ nietzel __PUNCT__ i appreci the introduct __PUNCT__ and the warm welcom to missouri state __PUNCT__

we have some distinguish guest here todai __PUNCT__

and on of them is a son of missouri who went on to becom our suprem alli command in europ __PUNCT__ my friend __PUNCT__ gener jame jone __PUNCT__

i here to learn about energi issu as well as to talk __PUNCT__

so let me just offer a few thought befor we turn to our panel and then take some question __PUNCT__

the fact is __PUNCT__ peopl have been worri and talk about america energi problem sinc long befor the student here were even born __PUNCT__

a lot of folk in washington ar still talk about it too __PUNCT__ talk is what thei do __PUNCT__

but thi nation cannot afford to put off seriou energi reform ani longer __PUNCT__

for the sake of our economi __PUNCT__ for the sake of our environ __PUNCT__ and for the sake of our nation_secur __PUNCT__ we need to get it done and get it right __PUNCT__

all across thi state and nation __PUNCT__ peopl ar hurt __PUNCT__

small_farmer __PUNCT__ trucker __PUNCT__ and taxi_driver ar unabl to cover their cost __PUNCT__

small_busi busi_owner ar struggl to meet payrol __PUNCT__

the cost of live is rise __PUNCT__ and the valu of paycheck is fall __PUNCT__

all of thi __PUNCT__ in larg_part __PUNCT__ becaus the price of oil is too high __PUNCT__ and the suppli of oil is too uncertain __PUNCT__

work_american rightli believ their govern ha a duti to final assur the energi_secur of thi countri __PUNCT__

even on extra penni at the pump cost our peopl a total of on billion_dollar more in a singl year __PUNCT__

and there ar other cost to our economi as well __PUNCT__ like the effect of oil import on our trade_deficit __PUNCT__

petroleum __PUNCT__ relat import came to __NUM___billion billion_dollar last year __PUNCT__ and the bill keep rise __PUNCT__

we ar actual borrow from foreign lender to bui oil from foreign produc __PUNCT__

over time __PUNCT__ in interest_payment __PUNCT__ we have lost trillion of dollar that could have been better invest in american_enterpris __PUNCT__

the sum effect of these intern deficit is a weaker dollar that undermin confid in the american_economi __PUNCT__

the weak dollar is a further tax on the economi in the form of higher_price for everyth we import __PUNCT__ includ oil itself __PUNCT__

and we wind up caught between the rock of slower growth and the hard place of inflat __PUNCT__

for hi part __PUNCT__ senat_obama ha a differ outlook on all of thi __PUNCT__

instead of new energi_product __PUNCT__ he want new energi tax __PUNCT__

and he against ani tax_relief to give folk a break at the pump __PUNCT__

i notic a pattern here __PUNCT__

when the speechmak is over and you stop to figur out what all the rhetor realli amount to __PUNCT__ the answer is usual some new tax __PUNCT__

for senat_obama __PUNCT__ the solut to everi problem and the answer to everi challeng is a new tax __PUNCT__

and he is convinc that a __NUM__ __PUNCT__ style windfal profit tax is just what america need in the __NUM___centuri __PUNCT__

but it pretti_clear to most of us that when it come to energi __PUNCT__ what we realli need is to produc more __PUNCT__ us less __PUNCT__ and find new sourc of power __PUNCT__

the next presid must be will to break with the energi_polici not just of the current administr __PUNCT__ but the administr that preced it __PUNCT__ and lead a great_nation nation_campaign to achiev energi_secur for america __PUNCT__

in the short_term __PUNCT__ thi requir more domest_product __PUNCT__ especi in the outer continent shelf __PUNCT__

we need to encourag product in wai that ar consist with sensibl standard of environment_protect __PUNCT__

and in state that permit explor __PUNCT__ there must be a share of benefit between state and feder_govern __PUNCT__

but as a matter of fair to the american_peopl __PUNCT__ we must assur afford fuel for america by increas domest_product __PUNCT__

when i announc thi polici the other dai __PUNCT__ senat_obama wast no time in mischaracter it __PUNCT__

he describ my posit as __PUNCT__ you guess it __PUNCT__ anoth exampl of bush third term __PUNCT__

i guess the senat ha chang hi posit sinc vote for the __NUM___bush energi_bill __PUNCT__ a grab __PUNCT__ bag of corpor handout that i oppos __PUNCT__

come to think of it __PUNCT__ that energi bill wa the onli time we ever seen senat_obama vote in favor of ani tax_break __PUNCT__ and it wa a tax break for the oil_compani __PUNCT__

in the big_pictur __PUNCT__ of cours __PUNCT__ more domest_product of oil is onli part of the solut __PUNCT__

we need a fresh_start as well to meet america grow electr need __PUNCT__

and if we look for a vast suppli of reliabl and low __PUNCT__ cost electr __PUNCT__ with zero carbon_emiss and long __PUNCT__ term price stabil __PUNCT__ that the work definit of nuclear_energi __PUNCT__

on obstacl to expand our nuclear __PUNCT__ power electr is the mindset of those who prefer to bui time and hope that our energi problem will somehow solv themselv __PUNCT__

it ha a lot more to do with the polit of matter than with the merit __PUNCT__

and you can observ thi approach even in the case of the senat from the state with more nuclear_power_plant than ani other __PUNCT__

senat_obama sai __PUNCT__ i am not a nuclear_energi propon __PUNCT__

i think that make him a nuclear energi oppon __PUNCT__ though he doe have a knack for nuanc and it not entir clear __PUNCT__

in ani case __PUNCT__ i am a propon of thi clean __PUNCT__ safe __PUNCT__ and effici sourc of energi __PUNCT__

right now __PUNCT__ we have __NUM__ nuclear_reactor in our countri __PUNCT__ gener about twenti_percent of our electr __PUNCT__

everi year __PUNCT__ these reactor alon spare the atmospher from the equival of nearli all auto emiss in america __PUNCT__

yet for all these benefit __PUNCT__ we have not broken ground on a singl nuclear_plant in over thirti_year __PUNCT__

and our manufactur_base to even construct these plant is almost gone __PUNCT__

china __PUNCT__ russia __PUNCT__ and india ar all plan to build more than a hundr new power_plant among them in the come decad __PUNCT__

across europ there ar __NUM__ reactor in oper __PUNCT__ and nation includ franc and belgium deriv more than half their electr from nuclear_power __PUNCT__

and if all of these nation can find a wai to carri out great goal in energi_polici __PUNCT__ then i assur you that the unit_state is more than equal to the challeng __PUNCT__

so __PUNCT__ if i am elect_presid __PUNCT__ i will set thi nation on a cours to build __NUM__ new reactor by the year___NUM__ with the ultim_goal of __NUM__ new plant to power the home and factori and citi of america __PUNCT__

thi task will be as difficult as it is necessari __PUNCT__

we will need to recov all the knowledg and skill that have been lost over three stagnant decad in a highli technic field __PUNCT__

we will need to solv complex problem of move and store materi that will alwai need safeguard __PUNCT__

we will need to do all of these thing __PUNCT__ and do them right __PUNCT__ as we have done great_thing befor __PUNCT__

at the same_time __PUNCT__ we must invest more in the great task of acquir clean __PUNCT__ coal technolog __PUNCT__

coal is a strateg nation resourc __PUNCT__ and todai provid most of our nation electr __PUNCT__ and about __NUM__ percent here in missouri __PUNCT__

burn coal cleanli is a challeng of practic problem_solv and human ingenu __PUNCT__ and we have no shortag of those in thi countri __PUNCT__

perhap no advanc in energi_technolog could mean more to america than the clean burn of coal and the captur and storag of carbon_emiss __PUNCT__

and to thi end __PUNCT__ as presid __PUNCT__ i will commit two billion_dollar each year on clean __PUNCT__ coal research and develop __PUNCT__

we will build the demonstr plant __PUNCT__ refin the techniqu and equip __PUNCT__ and make clean_coal a realiti __PUNCT__

thi singl achiev will open vast_amount of our oldest and most abund resourc __PUNCT__

and it will deliv not onli electr but job to some of the area hardest hit by our ec onom troubl __PUNCT__

the good that clean_coal can do extend around the world __PUNCT__ and into it ski __PUNCT__

onc we suppli the mean of clean __PUNCT__ burn coal and carbon_captur __PUNCT__ nation everywher will pursu the same end __PUNCT__ abund energi with low carbon_emiss __PUNCT__

china in particular ha enorm coal reserv that could power it continu econom_growth cleanli and effici __PUNCT__

and by master the technolog __PUNCT__ america will lead the wai __PUNCT__

in the progress of other altern_energi energi_sourc __PUNCT__ such as wind __PUNCT__ solar __PUNCT__ geotherm __PUNCT__ tide __PUNCT__ and hydroelectr __PUNCT__ govern must be an alli but not an arbit __PUNCT__

in less than a gener __PUNCT__ wind_power alon could account for a fifth or more of all our electr __PUNCT__

and just in recent_memori __PUNCT__ solar_energi ha gone from a novelti to a fast __PUNCT__ grow industri __PUNCT__

i vote against the current patchwork of tax_credit for renew power becaus thei were temporari __PUNCT__ and often the result of who had the best lobbyist instead of who had the best idea __PUNCT__

but the object itself wa right and urgent __PUNCT__

and when i sign law __PUNCT__ instead of cast on of a hundr vote __PUNCT__ i intend to see that object better serv __PUNCT__

we will reform thi effort so that it is fair __PUNCT__ ration __PUNCT__ and perman __PUNCT__ let the market decid which idea can move us toward clean and renew_energi __PUNCT__

we american like to sai that there is no problem we can't solv __PUNCT__ howev complic __PUNCT__ and no obstacl we cannot overcom if we meet it togeth __PUNCT__

i believ thi about our countri __PUNCT__

i know thi about our countri __PUNCT__

and now it is time to show those qualiti onc again __PUNCT__

i thank you all for your kind attent __PUNCT__ and now let me turn you over to my friend on the panel __PUNCT__