November 7, 2008

The Obama Nation: Will it be green?

Now that Obama is going to be the next president and the US Congress will be dominated by the blue party, there were a lot of optimism in the green sphere as well as slight pessimism (sometimes diplomatically called cautiously optimism) in the chemical and manufacturing sectors.

According to ICIS news, there are high expectations from major environmental groups that the Obama administration will be in favor of tightening chemicals regulations as well as more legislation on climate and pollution control.

Their wish list for the new Congress includes among others a passage for a cap-and-trade bill; a chemicals control bill that is likened (or better) to the European Union's chemical regulation Reach (registration, evaluation and authorization of chemicals); and renewal of the special tax on chemical producers to fund clean-up projects at polluted sites around the country.

Meanwhile, ICIS news also noted that the new administration will be a challenge to businesses such as chemicals, petroleum, electricity, coal, steel, and other manufacturing sectors that are energy-intensive.

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