US energy sector on presidential candidates’ plans

(Reuters) – U.S. energy policy has been at the fore of the 2008 presidential race due to growing concerns about energy costs, U.S. reliance on foreign oil and environmental issues.

Republican candidate John McCain and Democratic candidate Barack Obama have proposed energy plans highlighting offshore drilling, alternative energy, climate change, and fuel efficiency.

Below are comments by energy analysts, traders and industry groups on both candidates policies.


PETER BEUTEL, OIL ANALYST, CAMERON HANOVER, NEW CANAAN, CONNECTICUT

“Neither has an energy policy that is completely fleshed out yet. Obama wants to drill on existing land. McCain wants to drill on other lands.

The most important thing any president can do is to keep their eye on the ball. We need to prepare for ‘peak oil’. We need to drill in a lot of places we don’t now. We need to do everything Republicans and everything Democrats want.”

Reuters