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It is reported that US President Mr Barack Obama's energy policies are holding to pre election promises to end the need for crude oil imports from Venezuela and the Middle East.

A broker told Tankerworld that "This spells doom for tanker owners, the US is still the world's largest crude oil consumer, and voyages moving Middle Eastern crude to the US form an important part of global tanker traffic."

Mr Obama said in August 2008 that "If I am President, I will immediately direct the full resources of the federal government and the full energy of the private sector to a single, overarching goal in 10 years, we will eliminate the need for oil from the entire Middle East and Venezuela."

According to broker Mr Gibson, Obama's number one strategy is to invest into the development of multiple renewable energy sources aiming at significantly substituting consumption of foreign and domestic oil with other forms of energy. He said that "His comprehensive energy plan, among other ideas, covers initiatives in nuclear power generation, the electricity sector, clean coal technology and climate change."

Mr Obama said after the inauguration that he would prioritize construction of the Alaska National Gas Pipeline to bolster US suppliers.


http://steelguru.com/news/index/2009/01/25/Nzk5NTI=/US_energy_policies_spell_doom_for_tanker_owners_-_Report.html