Energy industry braces for Obama

Energy industry braces for Obama
The industry praises the president-elect's picks at DOE and EPA. But lawyers and regulators will largely run the show and the outlook for dirtier fuels could be quite costly.

By Steve Hargreaves, CNNMoney.com staff writer
Last Updated: December 23, 2008: 11:11 AM ET


NEW YORK (CNNMoney.com) -- Despite praising it publicly, the energy industry is wary of President-elect Barack Obama's incoming energy team which will likely call for major changes in the country's energy plan.

When Barack Obama announced his energy and environmental staff last week, the industry nearly tripped over itself lauding the new picks.

"Obama has carefully chosen an impressive team of experienced and capable leaders," wrote Tom Kuhn, head of the utility trade group Edison Electric Institute.

"Dr. Chu is an internationally renowned physicist ... acclaimed for his technical competence," the Nuclear Energy Institute's Marvin Fertel wrote about incoming Energy Secretary Steven Chu.

Even Big Oil was cordial. The American Petroleum Institute issued a statement saying it "looks forward to working with President-elect Barack Obama's appointees to develop a comprehensive, fact-based and realistic energy policy."

But unlike President Bush, Obama hasn't put a single person from the fossil fuel industry on his energy team.

more...

http://money.cnn.com/2008/12/22/news/economy/obama_energy/index.htm?postversion=2008122305

America has an Energy Plan????? :shrug:

with the new boss in town. I say 'good'.

"But unlike President Bush, Obama hasn't put a single person from the fossil fuel industry on his energy team."