Richardson Could Green Obama's Energy Policy

This came to me in a nightmare last night!

<b>Obama’s Bold New Energy Strategy</b>
<i>AJAX News Services, Houston, May 1st, 2010 </i>– Despite record domestic supplies of energy, with oil at $165 per barrel and gasoline prices hovering around $4.75 per gallon, recent national polls indicate that 75% of the American public believes the federal government should cap the price of gasoline, fuel oil and electricity; and prevent big energy producers from making record profits, profits that exceeded $100 billion in 2009. In response to these polls and to fulfill the promise that his administration is one of change, President Obama, Secretary of Energy Hillary Clinton, and key congressional Democrats laid out a bold new Energy Strategy in Houston this morning at the annual meeting of the Alternative Energy Resources Council. In an hour long presentation, Obama and Clinton laid out a six point plan to reduce U.S. dependence on foreign energy sources and prevent profiteering by domestic energy producers. Obama and Clinton are confident that the legislation needed to make this strategy a reality will easily pass the Democratic controlled House and Senate. The following summarizes their six point plan.
• Within three years, all major U.S. energy producers, to include electricity producers, will be nationalized and become non-profit operations under the Department of Energy. This will ensure that energy consumers are treated fairly, and not subject to obscene profits by producers.
• As soon as legislation can be passed, the price of gasoline, diesel, heating oil, coal, and electricity will be capped at reasonable levels. Producers may not sell their energy at prices higher than these caps, but may sell them at lower levels.
• Until such time that energy producers are nationalized, profits from operations are capped at 5% and all subsidies, tax incentives and other federal support for energy producers will terminate. Alternative energy producers may operate at an 8% profit to encourage investment.
• The United States will negotiate wholesale oil prices with major foreign oil producers and refuse to pay per barrel prices higher that $150 per barrel. Obama believes our outstanding relationship with Venezuela, Iran, China and Russia will make these negotiations possible.
• To protect the environment and help stop global climate change, U.S. Energy strategy will reduce domestic energy consumption by 20% in ten years. At first this will be done through rationing and caps on personal energy use. Eventually, once major energy producers are nationalized, the Department of Energy will control the supply to ensure consumption reduction goals are met.
• The final aspect of this bold energy strategy involves the Strategic Petroleum Reserve which both Clinton and Obama believe is not necessary because of the administration’s No War policy. The Reserve will be depleted systematically by the Department of Energy during the transition to nationalized energy production.
After the speech, energy stocks fell 35%, taking $80 billion out of investment and pension portfolios in less than three hours. Obama and Clinton did point out that this strategy will inevitably cause some short-term hardships for some Americans during the transition, but both are confident that the Department of Energy under Clinton is up to the task of running the country’s energy production. Clinton said her Department will set up counseling programs for energy challenged consumers during the transition. Obama was very confident in this strategy and recognized that even though the transition may be difficult, in the end, everyone in America will feel better because big energy producers are not making big profits and the price of gasoline is reasonable. In their Presidential campaigns both Obama and Clinton promised to “Go After Big Oil” and Obama promised change. Obama has always fulfilled his campaign promises and indeed this energy strategy is a big change.