What Washington Has in Store for Energy
NEW YORK ( TheStreet) -- New appointments for President Obama's second term have included a new Secretary of Energy and a new commissioner at the Environmental Protection Agency. Do either of these appointments signal anything new in policy on energy going forward?
In a word, no. Ernest Moniz, the choice for Energy secretary, is another MIT scientist very much in the same mold as outgoing Secretary Steven Chu. He's an advocate of the "all-of-the-above" energy strategy proposed by President Obama that ultimately leads nowhere special, particularly on natural gas, even though Moniz is known to be an advocate of fracking.
At the EPA, Gina McCarthy is similarly diligent in proposing and assessing stringent air and water regulations as the outgoing commissioner Lisa Jackson. McCarthy's history hails much more from the Republican ranks having worked for Mitt Romney when he was Governor of Massachusetts. However, she has shown a strong advocacy for stringent air and water regulations and their enforcement.
See the video I shot with Jim Cramer for my take on what these appointments mean for the energy sector and how it could be affected.
Follow @dan_dicker This article was written by an independent contributor, separate from TheStreet's regular news coverage.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV