Houston
20 January 2009
President Barack Obama delivers his inaugural address at the U.S. Capitol, 20 Jan 2009 |
"Each day brings further evidence that the ways we use energy strengthen our adversaries and threaten our planet," he said.
The president went on to mention briefly what his goal will be when it comes to energy.
"We will harness the sun and the winds and the soil to fuel our cars and our factories," he said.
More details are provided on the new White House web site, which outlines the Obama administration's policies on a wide range of issues.
A Clean Energy Future
Among the energy proposals listed are: creating five million new jobs by investing $150 billion over the next 10 years to promote a clean energy future; reducing imports of oil through conservation and promotion of hybrid electric cars; implementation of a "cap-and-trade" program to reduce greenhouse gas emissions 80 percent by 2050.
Wind turbines at the Wild Horse wind project in Washington state generate enough power to meet the needs of 50,000 households |
A First Step, But Questions Abound
Still, energy analyst Ken Medlock at Rice University's Baker Institute for Public Policy, said President Obama has made a major step forward in addressing the energy problem by simply having a plan.
"Having a plan is the first major step toward having something real occur. We have not had a real plan, ever, really. This is exciting, from that standpoint, in that we seem to have a goal and we seem to have a plan to execute that goal," he said.
Metrobus powered by hybrid electric technology |
The Right Moment for Change
Now that oil prices have fallen below $40 a barrel is the perfect time to implement such a plan, in Medlock's view. He said the administration could sell it on the basis of its overall benefits to the economy.
"We import a lot of our oil and if we could curb consumption, we could actually dramatically reduce those imports and that would affect our balance of trade, which would positively influence the value of the dollar, which would do all sorts of things in terms of what we could afford to buy in terms of imported goods," he said.
Medlock also questioned the administration's goal of creating a "cap-and-trade" program, whereby a company that is producing greenhouse gases can buy offset credits from another company that has reduced such emissions. Such a scheme would favor companies that pollute little and put a big economic burden on those that rely on fossil fuels like coal to fire furnaces or generators.
A Rough Road Ahead
Medlock said even some members of Obama's own Democratic Party would fight that idea.
A flock of geese fly past a smokestack at the Jeffery Energy Center coal power plant near Emmitt, Kansas (file photo) |
But the Obama administration is only a matter of hours old and still has a long road ahead in terms of forming specific proposals on energy.
Medlock said much will depend on how effective the new president is in formulating policies that draw widespread support from Congress and the American people.