Change.  Obama’s mantra of change was the center of his campaign and the center of his energy policy.  It was also a main point of criticism by Republicans.  Obama was attacked and questioned about how his changes would be accomplished.  Obama answered with a very detailed response in his nomination acceptance speech as well as in several speeches across the country.

In a nutshell, here is what Obama proposed:

Short Term: Obama will require oil companies to help fund a $500 tax relief check to individual American citizens in the next four months.  A second stimulus check has been proposed for fall/winter of 2009 to assist in rising heating costs.  Obama and his team will be cracking down on oil company regulations to save costs.

Mid to Long-Term:  Obama’s administration proposes a cap and trade program in which corporations will be given an incentive to emit less.  If corporations undershoot their energy allowance per year, they may sell their remaining energy allowances to another company.  In this way, companies benefit from using less and other companies are forced to pay if they exceed their allowance.  In addition, part of this fund goes towards green efforts.

Additionally, Obama will be re-connecting with the U.N. Framework Convention on Climate Change (UNFCC) and encouraging other major carbon emitting developing countries (Brazil, China) to join as well.

Jobs: Obama has proposed creating five million new “green” jobs over the next ten years.  These jobs will be not only in the creation of new green technology, but in the manufacturing.  Obama has proposed investing $15 billion per year over the next 10 years to ensure that there are one million plug-in hybrids on the roads, as well as to encourage many other forms of green technology advancements.  Obama wishes to begin a “Green Vet” program in which the hundreds of thousands of soldiers returning from Iraq have a job arena in which they can participate.

Domestic Energy:  One of the largest aspects of Obama’s plan is reducing America’s dependence on foreign oil. Oil companies will be forced to adhere to a “use it or lose it” policy in which their millions of untouched acres either need to be developed or they will lose it.  Obama will also prioritize the construction on the Alaskan pipeline.

Diversify:  Another big push of the energy policy is to have ten percent of electricity come from renewable sources within three years.  Obama will also be pushing for the production of clean coal and safe nuclear energy.

Reduce:  Obama’s goal is to have the U.S. be the most efficient country in the world (we’re currently 22nd).  He proposes accomplishing this by increasing building standards and efficiency, increasing Congress’s involvement in upholding efficiency standards, investing in a smart grid, and weatherizing one million homes annually.

It will be exciting to watch our country undergo such an involved and drastic action-plan.  For Obama’s complete energy plan, click here.