Energy Policy Outlook Less Clear Post Oil Spill

The President's speech last night was intended to do two things. First, demonstrate the administration's commitment to addressing and solving the oil spill crisis. Second, tee up the debate for comprehensive energy policy reform. Frankly, questions about both still remain. Whether it be cap-and-trade or a national carbon tax, any energy policy reform with either of these provisions would still appear to be "dead on arrival" in the Senate. Pressure from the Left to cease all oil drilling and exploration considered amped by the BP oil disaster is easily offset by the obvious economic impact of such policy. One must wonder what "comprehensive energy reform" could look like that would attempt to disadvantage domestic oil production while at the same time taking steps to draw in moderates' and coastal state Senators whose constituents are heavily reliant on an oil drilling economy. Further, the US Chamber does a nice job of outlining the long term security risks of an overly aggressive, oil-less energy policy.