How would you as­sess Obama’s ad­min­is­tra­tion in terms of en­ergy, the en­vi­ron­ment, trade?

Bloomberg Businessweek (North America) - - Companies/Industries -

They’re rush­ing out reg­u­la­tions as we speak, in their fi­nal six months. Just in the last cou­ple of weeks, they’ve done some—a well con­trol rule in the Gulf of Mex­ico. Our in­dus­try has put in place a hun­dred new prac­tices in col­lab­o­ra­tion with the gov­ern­ment since the Ma­condo in­ci­dent to im­prove drilling safety. And yet, with very lit­tle en­gage­ment with in­dus­try, they rushed out new pro­vi­sions. Also, meth­ane reg­u­la­tions. The cost of these meth­ane reg­u­la­tions is dis­pro­por­tion­ate to the ben­e­fits, at any rea­son­able price on car­bon. Those are just two re­cent ex­am­ples. In gen­eral, I would say the power has shifted to­ward reg­u­la­tors in this coun­try. I don’t think it’s a co­in­ci­dence that we’re see­ing sub­par eco­nomic growth. I think it’s a bur­den.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.