The Next Secretary of Energy
While the first Cabinet posts announced were naturally President-elect Obama’s economic team, there is already great speculation about (and quiet campaigning for) the post of Energy Secretary. The President elect has ambitious plans when it comes to energy and climate change, and the person selected tolead the department will be central to the new administration’s success.
The Economy, Oil and the Fundamentals of Demand
The substantial reduction in the price of oil in recent months suggests that the global oil bubble may have finally burst, allaying once persistent fears that the demand for oil and its price would rise unabated far into the future.
That the hand-wringing over oil has come to an end is not surprising. After all, oil prices peaked at a historic $147 per barrel in July; today they hover near $55. For now, the flagging economy promises to put a damper on both demand and prices.
More headlines from this issue:
» SEC Proposes New Oil & Gas Rules
» OPEC Update: Chasing Demand Downward
» Carbon Capture & Storage: A Viable Solution for Climate Change
» China Moves Toward Reform
» Russia’s Strategic Asset Law
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