Obama’s energy, environment strategies to be ‘mixed bag’

01/26/2009
As Barack H. Obama was sworn in Jan. 20 as the 44th US president, his administration announced an energy and environment program with provisions directly affecting the oil and gas industry in several areas. Click here to enlarge imageThe strategy aims to save more oil than the US imports from Venezuela and the Middle East combined within 10 years by promoting “the responsible domestic production” of oil and gas, according to information posted on the White House web site. It also embraces a “Use it or lose it” approach to existing leases.Proposals to reduce US oil imports also include enacting higher fuel economy standards, putting 1 million plug-in hybrid cars on...

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