During pre-election campaign President Obama had been very critical about our flawed energy policies, and his much-advertized vision for green energy policy had placed the significance and exigency of sustainable energy policies at the forefront. His draft policy substantially emphasized the salient efficacies of the renewable energy. While emphasizing the the importance of renewable energy, he was poignantly observant about the result of climatic degradation and the alarming issues like shrinking polar ice-caps making sea levels to rise, extreme weather conditions wreaking global havoc, severe recurrent droughts, the menace of migrating tropical diseases and the log-term threat of sheer extinction of numerous species. In this article, I would like to recap the policy directions he thought about.
The renewable energy solutions, he propagated in his campaign had two dimensions - the short-term and the mid-to-long-term initiatives. The short-term solutions, as propagated by President Obama in his campaign, focus basically on providing some immediate relief to the consumers from soaring energy costs. He talked about extending emergency energy rebate to the households "by requiring the oil companies to take reasonable share of their record- breaking windfall profits and use it to provide direct relief worth $500 for an individual and $1,000 for a married couple."Other short-term prescriptions included initiation of regulatory measures to plug the loopholes in Commodity Futures Trading Commission, so as to control excessive oil-price speculation. The campaign also recommended to "swap light and heavy crude, release oil from Strategic Petroleum Reserve (SPR) to cut process." The mid-to-long-term solutions outlined in the campaign release, emphasized heavily on adoption and implementation of renewable energy.
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