The U.S. presidential election day is November 4. It is amazing how little speculation there has been about the effect of the election of either candidate on the oil and gas industry. Oh sure, recent high oil prices figured in the early campaign days but, since the fall in prices, oil and gas have become non-issues. That is because, all bluster aside, Americans really don't care about oil and gas until it hits them squarely in the pocket book. Since the price of gasoline has fallen, all issues have moderated. Every president since Richard Nixon, Democrat and Republican alike, has publicly promised an end to foreign oil imports at some time during their presidency, usually during a time of elevated oil prices. None has ever come close to fulfilling that promise. When the price moderates, the discussion abates. No wonder, then, that the U.S. has never had, and will likely never have, an energy policy, viable or not. Not much chance that either Obama or McCain would seriously attempt anything resembling an energy policy. It's just one of those things that is not done here.
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