Harsher energy regulations seen in Obama's second term

Energy companies likely will see more regulation in President Barack Obama's second term, with less access to federal lands and water even as the administration promotes energy independence. With a pledge to cut oil imports by half by 2020, Obama during the campaign advocated what he called an "all of the above" approach to developing a range of domestic energy sources. He said, however, that he would roll back subsidies for oil companies and reduce the nation's reliance on oil by mandating production of more fuel-efficient vehicles. "You are going to have less access to federal lands and tougher government agencies," said Dan Pickering, chief investment officer at TPH Asset Management in Houston...more