Obama eyes active role in oil markets

[Amerigo Vespucci]

Source: Yahoo News

WASHINGTON (Reuters) - Democrat Barack Obama would take an active role in U.S. oil markets as president, tackling concerns about the dominance of large oil companies and eyeing the Strategic Petroleum Reserve as a potential weapon to combat high prices, his top energy adviser said.

The presidential hopeful's adviser, Jason Grumet, told Reuters that an Obama administration would crack down on any competition lapses in the sector that have resulted from big corporate mergers.

Fleshing out the Illinois senator's energy and environmental policy goals, Grumet also said Obama would seek to link a future U.S. carbon emissions trading system with the European Union's scheme as soon as possible while focusing attention on China and India in forging a global warming pact.

Obama is locked in a tight contest with fellow Democrat New York Sen. Hillary Clinton for the chance to take on presumptive Republican presidential nominee John McCain in the November election.

Read more: http://news.yahoo.com/s/nm/20080320/pl_nm/energy_obama_dc_7

[aquart]

1. Nice. How?

[AndyA]

3. Why, how dare you ask for specifics!

You are only supposed to believe what the almighty Obama camp says.

Do not question.

Adore, and proceed.

And donate.

That is all that is desired from you at this time.

:eyes:

[Tempest]

7. Tell so the Hillary camp steals his ideas?

Obama appears to be smarter than that.

[AndyA]

9. In my opinion, neither of the camps are very smart.

And both candidates are second rate.

Neither will fix America, sadly.

[Amerigo Vespucci]

4. "It is premature to try to articulate what the remedy is," Grumet said...

From the same article:

"Senator Obama has a deep concern that the consolidation of the industry -- these national mergers, you know, that were allowed under both Clinton and Bush administrations -- are a cause for some concern," he said.

He said an Obama administration would examine "whether these mergers and consolidations have decreased competition in a way, concentrated market power in a way, that is undermining to consumers."

Grumet declined to identify specific companies and would not comment on whether Obama would seek to break up dominant players. Leading U.S. oil firms include ExxonMobil Corp., Chevron Corp., and ConocoPhillips.

"It is premature to try to articulate what the remedy is," Grumet said. "There are indications that there could be some problems there and ... the (Bush) administration has been a bit asleep at the switch, so we would be digging into those questions aggressively."

[Zynx]

11. I really don't think it is.

I can't even construct an argument for how it would be premature.

[DJ13]

6. How what?

Bill Clinton threatened to use the SPR as a weapon to combat increasing oil prices in the late 90's, and it kept the price contained.

Shouldnt it make you wonder why Hillary hasnt highlighted her husbands use of the SPR in the past to confront the oil companies?

Maybe the fact she has recieved more campaign money from the oil industry than any of the three remaining candidates makes her less than the ideal candidate to confront the oil companies about screwing over the US consumer?

[jody]

2. More BO statements without substance. Why doesn't he just use his magic to create more oil? n/t

[thevoiceofreason]

5. Take the time to read his energy policy

Much more substance than Hillary's. That's why I back him. And, he has the vision to tie it to his environmental and labor programs and proposals. Go to his site and read. Or, you can just stick to your talking points memo.

[jody]

8. Neither BO nor HC have viable energy policies. It's a simple fact that consumers are at the mercy

of international oil companies in the near term.

The only long term solution appears to be alternative energy sources. Government can fund research and offer incentives to corporations for R&D.

Those programs require funds that only congress can provide and congress is dominated by corporatists who can command bi-partisan support for any bill dealing with energy.

[heliarc]

14. More Hillary supporter accusations that lack substance.

Their Website energy pages look surprisingly similar. How much more is she really telling us about what she'll do on the oil industry?

http://www.barackobama.com/issues/energy/

http://www.hillaryclinton.com/issues/energy/

I might even argue that Obama's page is more specific and more informative than Hillary's... I don't quite understand all of these accusations of lack of substance.

[CANDO]

16. Just admit you don't really care about details

You just wanted to go toddler on us.

[Misanthrope2]

10. Obama didn't say anything.

It was an advisor doing a third-party sales job.

Besides, Obama is for nuclear power, has nuke advisors and takes nuke money.

Maybe he will drive down oil prices by building nuke plants.

No nukes for me, thanks.

[AX10]

12. How would you do this Senator?

[madmom]

13. no offense, but we've heard this before!

[PittPoliSci]

15. anything short of a national refining system is inadequate.