According to the latest news provided by CNN Money, Obama’s proposals in the sphere of energy will bring benefits to nearly all energy actors, also resulting in reduced prices for consumers. However, the new policies announced during the president’s “State of the Union” campaign last week, as well as in his other reports, were received coldly. Most of what Obama recently proposed has been either submitted for consideration earlier, or represented minor changes. Thus, it is possible that the president will not get all his ideas converted into law. The people currently working in particular energy sectors and using payday advances to manage their monthly bills, also wish they had more benefits. However, politicians agree on that the new plans introduced by Obama represent a kind of “deja vu” approach.
A Houston lawyer specializing in energy practice at the international law enterprise, Mayer Brown, called Obama’s propositions a “smart, well-balanced and welcome policy”.
What is important, natural gas will likely get the most benefits among other energy actors. In his report made for State of the Union, Obama claimed he would fully support long-term development of natural gas in America.
The President also assured that the United States now have natural gas reserves to maintain people during the next hundred years, promising that his administration would contribute to this energy development in every possible way.
The “Energy Question” Is A Keypoint In Obama’s State Of The Union
The President managed to reach mutual understanding with environmentalists, preoccupied with the hydraulic fracturing problem, by promising them a complete disclosure of the chemicals used on the energy development process. The ground water pollution that may be provoked by the above-mentioned chemicals remains a big concern. At the same time, requesting the disclosure mentioned by Obama has already become normal in many states. And, there are now a lot of companies doing it on a voluntary basis.
Being still a small part of the country’s overall energy production, the solar and wind energies have jumped three-fold since Obama came into power, as the trade unions of those industries reported. According to the data provided by the Energy Information Administration, natural gas and oil production increased 10% and 14% as a result of elevated oil prices, authorizing the fruitful oil production to implement the new technologies. However, Obama would mostly like to get a loan for it.
Chances Are That The Present Tendency Will Continue
According to the EIA estimations, the volume of country’s oil production will raise about 20% by 2020. This will likely result in importing 38% of oil by 2020, as opposed to 49% of its oil imports made in 2010.