Asked what single economic concern worries him most and will be uppermost on his mind if he steps into the Oval Office next January, Obama said energy supplies. "It's not a problem I think we can drill our way out of," he says. "It can be a drag on our economy for a very long time unless we take steps to innovate and invest in the research and development that's needed to find alternative fuels, to make our transportation system more energy efficient, retool our industry and our buildings."
But to encourage a transition toward alternatives, Obama favors legislation that would make fossil fuel more expensive. Doesn't that mean more pain to come under an Obama presidency? "There is no doubt that in the short term, adapting to this new energy economy is going to carry some costs." But, he adds, citing the coal industry's ability to adapt to stop acid rain in the 1980s, "I would never underestimate the power of American innovation."
Hope and change. It sounds like Obama hopes you'll have less change when you buy gas. Just what America needs.
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