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So energy stocks taking a huge hit -- -- with oil and natural gas along with coal miners among the biggest losers President Obama campaign on his wide ranging all of the about energy plan.
Collapsed down on what will really see in the next four years starting -- -- Bill Richardson so.
Governor of New Mexico and secretary of energy under President Clinton thank you so much for joining us today.
Thank you Melissa what I think.
-- That future holds for the energy sector now now but the campaigning is over and the reality sets in what's your -- Well I think the president is in a strong position.
And what I would do is I would do three things one.
If I'm president I'd say.
We're gonna have an energy summit let's get all the stake -- oil and gas renewables.
Clean coal nuclear and let's have a comprehensive energy policy.
Let's get the politics out of it.
The second thing I would do.
It's I would say one of my major initiatives in the new congress is gonna be a comprehensive energy bill.
Along with immigration reform and obviously the -- issue.
And then third double -- I think that the president should say.
Let's find it a real climate change policy.
In this country look if anything sandy has taught us.
Is that the appointment is saying something to all of us.
But I think this is a time for conciliation.
For compromised although I will -- the oil and gas guys.
And and the cold guy's a Melissa I think they've got a little fence mending to do with the White House but I don't the president let's.
Ready to have a dialogue let's of that energy policy because you know he's -- all be about but it seems like if you look at a lot of his policies in a lot of places that he's bet taxpayer dollars -- -- green energy.
So it seems like whether it -- -- -- you support better not -- whatever you think.
A lot of people in the market today are betting.
That another four years is bad for the coal industry and is bad for traditional fossil fuels do you think that's right -- mean it's logical.
Well -- the record doesn't show differences -- the oil and gas it we've got the highest amount of drilling going on.
The US fracking.
-- like -- and people are worried about that.
That there's going to be more regulation are fracking -- -- now at this point and that's why we're seeing so much production it was it.
Technological advance that has ushered in the you know all of this natural gas in new production do you think that he might threaten that because a lot of people think that that's bad for the environment.
No I think the president has had let science.
-- sensible environmental regulations.
Deal -- natural gas -- -- I think that's the right policy.
But I think the industry's got to realize that they just can't have a free hand.
There's got to be sensible.
Regulation OK so what I had more regular dialogue now.
Now now that that the issue here -- as the coal guys I think the president has said he wants clean coal.
But the call guys came after him in many states he wants to kill the coal industry that's really not true so I think they've got to.
Have a real reality check as to whether they want to be part of this all of the above policy which I think from the president's standpoint -- national standpoint.
Makes a lot of sense he said last night I want to reduce oil imports in his in his acceptance speech.
And and so what needs to happen is we don't have a comprehensive energy policy we -- -- yeah.
This isn't -- that means that fit that if they don't come forward to mend fences that he's gonna seek revenge and punish -- I mean that's that's sort of sounds like you're saying what about.
Now I'm -- that they overdid they're campaign rhetoric and so they should come to the table.
I think if they try to isolate themselves and fight everything that doesn't make sense what I'm saying is that.
Everybody needs to compromise now I I think the future in my view is natural gas and renewable energy.
And President Obama on green energy.
Reduce making fuel standards more efficient.
A green buildings green energy efficiency.
Initiatives that makes a lot of sense.
And -- -- and I also -- -- see more oil and gas drilling I don't have a problem with that.
But there's got to be you know instant instead of this and this incessant competition.
Between Democrats and Republicans and the oil industry and renewables and regulation and -- regulation.
I think the message the voters sent us guys -- I got together and I have get together.
Comprehensive aren't -- were -- court governor thank you are coming out we appreciate your time.