Energy policy is the manner in which the governmental has decided to address issues of energy development, production, distribution and consumption. The attributes of energy policy includes legislation, international treaties, incentives to investment, and guidelines for energy conservation, and taxation.
With the rise in gas prices President Barack Obama current energy policy is to direct his administration to ramp up U.S. oil production by extending existing leases in the Gulf of Mexico and Alaska’s coast. However, these moves will not impact the price of gasoline at the pump in the foreseeable future but may reduce dependence on the importation of oil in the long term. Not surprisingly, the oil industry is praising Obama’s decision. Yet, what happened to the concerns about possible dangers to the economy as well as the environment considering the aftermath of last year’s BP oil spill.
The Maddow Blog has a post concerning subsidies for major oil companies. However, if you were president or a member of congress, what energy policy would you formulate to decrease U.S. dependence on oil?