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What The Industry Thinks Of Obama’s Energy Team

We have Steven Chu, Energy Sec., Lisa Jackson, EPA, Nancy Sutley, Council on Environmental Quality, and Carol Browner, energy czar. Not an oil (wo)man in the mix. This is a horse of a different color. They want to cap greenhouse gasses, and move to renewable fuel.

What does the energy industry think?

There’s a bull’s eye painted on coal. It’s Chu’s “worst nightmare.” Nuclear energy & oil – the crystal ball is murky. Obama & team not clear on exactly where they stand, but Chu thinks nuclear must play a significant role in the nation’s energy portfolio.

Big Oil may lose some tax breaks, but they might get to drill in more parts of the country. With gas prices down, oil is out of the limelight for the time being.

Natural gas burns cleaner than coal and has the scale to provide power while we wait for renewables to mature.

Kevin Book, a senior energy analyst at the investment bank Friedman, Billings, Ramsey, said the Obama long-term energy plan has been described to him roughly as such:

Renewables like wind and solar will begin to displace coal from the electricity generating market, with solar panels mounted on the roofs of nearly all big buildings.

Electric cars will become widespread, and car batteries will be used to store excess electricity or as a source for more electricity when it’s needed. A computerized electrical grid will handle the electric flow, drawing it from batteries to buildings, or vice versa, when needed.

But before any of this can happen, the nation needs to become much more energy efficient.

“We’re going to change how efficiently we use electricity – forever,” said Book

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