Examining oil and gas policy in President Obama's second term

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Abstract

President Obama has described his energy policy as “all of the above.” His opponents have called it “picking winners and losers.” In practice, it has been driven by two major changes in the nation's energy landscape: a boom in private domestic oil and natural gas production, and concerted federal promotion of renewable energy development. This article focuses on the oil and gas industry. Specifically, it looks at expected policy changes that will redefine how oil and gas drilling practices are regulated under federal environmental laws, as well as the impact of increased oil and gas production in driving new infrastructure and facilities proposals needed to deliver these energy resources to market. Finally, the article discusses the tension between two stated policies of the Obama administration: fighting climate change by reducing greenhouse gas emissions and increasing oil and gas production to promote economic growth and energy independence.

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