December 25th, 2008
07:00 AM ET
6 years ago

Energy industry braces for Obama

The energy industry is bracing for Obama.
The energy industry is bracing for Obama.

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.

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Filed under: Energy • Obama transition
soundoff (21 Responses)
  1. Central Scruitinizer

    It is time to wave bye-bye to the dinasaur juice for fuel and welcome a new era of alternatives. Oil companies will unfortunately probably gear up so they can continue to dominate future profitable energy products.Idont guess Prez Shrub would invite them all to move in with him and retire.

    December 25, 2008 08:09 am at 8:09 am |
  2. McKinney Kid

    We as a people could do a lot to reduce oil consumption without any real sacrifice: lower speed limits, smaller cars with smaller engines and no air conditioners would go a long way. We don't have the will to face the facts. Why, for example, do we make and sell cars that will go faster than 75mph when it is not legal to drive that fast? That extra power always means lower mileage.

    I am enthusiastic about the Obama team's ability to come up with solutions to our energy problems, but I am very pessimistic about the ability of Americans to accept any solution.

    December 25, 2008 08:15 am at 8:15 am |
  3. WIlly Brown

    Team Obama plan; TAX, tax, tax, tax, tax,tax.

    December 25, 2008 08:24 am at 8:24 am |
  4. shelby

    Maybe he can start by staying closer to home himself and not using thousands of gallons of fuel to transport his entourage by chartered jet.

    December 25, 2008 08:25 am at 8:25 am |
  5. Greg Hodges

    Of course they are wary of the new President. They have been the tail wagging the dog for far too long. The message is this: "Join the 21st Century, clean up the pollution you create, or it`s goodbye time for you." We cannot afford business as usual any longer.

    December 25, 2008 09:12 am at 9:12 am |
  6. Larry

    It's about time that the Energy Industry shake a little in their shoes

    If Obama is half the man I believe he is, I hope he shows those greedy, self serving, all for profit energy boys what it is like to NOT have the free ride they've been given for the past 8 years

    How can they rake in Billions of profit each quarter while the elderly, the poor, the children shiver by the heat of some dimly lit fire because they can't afford fossil fuel

    While the fat boys ride around in luxury adding link by link to the chains that will bind their souls, and forever keep them from true peace

    Merry Christmas

    December 25, 2008 09:29 am at 9:29 am |
  7. john

    And it is about time... 40 years too late!

    This will be remembered in history by the decline of the OIL age and the raise of the SUPER EFFICIENT GREEN age.

    December 25, 2008 09:31 am at 9:31 am |
  8. How about we brace for the energy industry

    record profits this year and for the last years, anything will be a deserved step down from that, drill baby drill, Cheney needs to go to jail

    December 25, 2008 09:38 am at 9:38 am |
  9. Ed, Santa Fe, NM

    and well they should be.... the phony gas price hikes in the last few years are a perfect example of corporate GREED.

    December 25, 2008 09:51 am at 9:51 am |
  10. Keith in CA

    Never before have we had a president more closely tied to the oil industry than Bush. During the Bush terms, the oil industry had record profits with little or no regulation. Bush wants to turn over protected national land so the industry can "drill, Baby, drill" despite the millions of acres of land already available for that purpose. Bush wants to rewrite environmental policy regarding threatened and endangered species to accomodate more drilling. Oil companies have regained access to Iraqi oil at the cost of thousands of American and Iraqi lives.
    With Obama taking office, the free ride is coming to an end.

    December 25, 2008 10:45 am at 10:45 am |
  11. jane in Columbus,ks

    Oil companies in particular should be very wary as a new age is dawning and I pray that they will have their feet and hands held to the fire and finally, just maybe, some accountability be forced on them since they won't " see the light" any other way

    December 25, 2008 10:51 am at 10:51 am |
  12. America loses, Barack wins

    Even there is no empirical evidence that the theory of global warming is true, despite the fact our temperatures have been getting colder the last two years (ice is thickening in both poles the last two years). Our planet has gone from an Ice Age to where we are now, well before the invention of carbon run engines.

    Despite many scientists not agreeing with the alarmist like Gore, our businesses will be put at an enormous disadvantage relative to the rest of the world in this Global economy when the Democrats shove down our throats, CAP and TRADE taxes and regulation policy. Good bye Jobs and Good bye industries that will be forced to leave because of Barack Obama.

    We will miss you jobs and industries that will be forced to leave.

    December 25, 2008 11:00 am at 11:00 am |
  13. America loses, Barack wins

    Even there is no empirical evidence that the theory of global warming is true, despite the fact our temperatures have been getting colder the last two years (ice is thickening in both poles the last two years). Our planet has gone from an Ice Age to where we are now, well before the invention of carbon run engines. .

    Despite many scientists not agreeing with the alarmist like Gore, our businesses will be put at an enormous disadvantage relative to the rest of the world in this Global economy when the Democrats shove down our throats, CAP and TRADE taxes and regulation policy. Good bye Jobs and Good bye industries that will be forced to leave because of Barack Obama.

    We will miss you jobs and industries that will be forced to leave.

    December 25, 2008 11:00 am at 11:00 am |
  14. proudliberal-independent

    it is time....., our planet cant wait any longer.

    December 25, 2008 11:21 am at 11:21 am |
  15. steve

    yes it will be quite a change after the free for all they have been given by bush/cheney BUT it will be for the betterment of the country too bad THAT IS not what most of these people care about INCLUDING bush/cheney

    December 25, 2008 11:21 am at 11:21 am |
  16. THE OLD TIMER

    Obama is all talk...... What he does will be more detramental to the American taxpayer...... Give us autos that wil get 50+miles per gal...

    Give us back our dignity ... Reveal your birth certificate.... you will not do this because you do not belong in the whitehouse. YOU HAVE TO MANY THINGS TO HIDE.... just wait until PANDORAS box is fully opened.

    December 25, 2008 11:25 am at 11:25 am |
  17. Meka

    Effective Energy Plan, WILL NOT include . . . DRILL HERE, DRILL NOW !

    America has WATER on THREE SIDES of it's BORDERS.

    Have we not seen what DESTRUCTION that the TROPICAL STORMS bring?

    December 25, 2008 11:28 am at 11:28 am |
  18. JS

    Large tax on Oil, run coal out of business, stop all domestic drilling. Yeah Obama/Pelosi are going to cause a lot of people up north to freeze to death. I love our new leaders, reduce green house gases and at the same time reduce the population, makes for a better world.

    December 25, 2008 11:29 am at 11:29 am |
  19. cobra

    You will see five dollar gas under Obuma

    December 25, 2008 11:40 am at 11:40 am |
  20. Nick - Arlington, VA

    America loses, Barack wins December 25th, 2008 11:00 am ET

    Even there is no empirical evidence that the theory of global warming is true, despite the fact our temperatures have been getting colder the last two years (ice is thickening in both poles the last two years).
    ----------------------------------
    What a delusional Flat-Earther you are.

    December 25, 2008 11:44 am at 11:44 am |
  21. BUSH BEGONE

    As well it should be, after 8 years of allowing big oil to do as it pleases, while lining the pockets of Bush/Cheney it will be nice to have a President that is for ALL the people, and not just the rich people

    December 25, 2008 11:50 am at 11:50 am |

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