'Barack Obama'에 해당되는 글 5건

  1. 2008.12.11 Nobel Physicist Chosen To Be Energy Secretary by CEOinIRVINE
  2. 2008.12.09 Street Leaps On Stimulus Plans by CEOinIRVINE
  3. 2008.12.04 Haste Could Make Waste on Stimulus, States Say by CEOinIRVINE
  4. 2008.11.25 Democrats' Stimulus Plan May Reach $700 Billion by CEOinIRVINE
  5. 2008.11.06 Rahm Emanuel Mulling Obama Job Offer by CEOinIRVINE
Steven Chu, who won the 1997 Nobel for Physics, has focused on energy issues in recent years.
Steven Chu, who won the 1997 Nobel for Physics, has focused on energy issues in recent years. (Ben Margot - AP)


President-elect  Barack Obama has chosen Steven Chu, a Nobel Prize-winning physicist who heads the Lawrence Berkeley National Laboratory, to be the next energy secretary, and he has picked veteran regulators from diverse backgrounds to fill three other key jobs on his environmental and climate-change team, Democratic sources said yesterday.

Obama plans to name Carol M. Browner, Environmental Protection Agency administrator for eight years under President Bill Clinton, to fill a new White House post overseeing energy, environmental and climate policies, the sources said. Browner, a member of Obama's transition team, is a principal at the Albright Group.

Obama has also settled on Lisa P. Jackson, recently appointed chief of staff to  New Jersey Gov. Jon S. Corzine (D) and former head of the New Jersey Department of Environmental Protection, to head the EPA. Nancy Sutley, a deputy mayor of Los Angeles for energy and environment, will chair the White House Council on Environmental Quality.

The appointments suggest that Obama plans to make a strong push for measures to combat global warming and programs to support energy innovation. "I think it's a great team," said Daniel A. Lashof, director of the Climate Center at the Natural Resources Defense Council. "On policy, it's a dramatic contrast based on what I know about the policy direction that all these folks will be bringing to these positions."

Obama has not yet settled on his choice to head the Interior Department, another key environmental post, and sources close to the transition indicated that several candidates remain under consideration. Barring any last-minute glitches, Obama plans to announce the appointments next week.

Chu, the son of Chinese immigrants, won the Nobel Prize for Physics in 1997 for his work in the "development of methods to cool and trap atoms with laser light." But, in an interview last year with The Washington Post, Chu said he began to turn his attention to energy and climate change several years ago. "I was following it just as a citizen and getting increasingly alarmed," he said. "Many of our best basic scientists [now] realize that this is getting down to a crisis situation."

He sought and won the top job at Lawrence Berkeley National Laboratory in 2004, leaving the Stanford University faculty to focus on energy issues. Chu was in London last night and unavailable for comment, but the physicist has been, in the words of his Web site, on a "mission" to make the Lawrence Berkeley National Laboratory "the world leader in alternative and renewable energy research, particularly the development of carbon-neutral sources of energy."

The national laboratories fall under the Energy Department, whose budget is devoted largely to dealing with nuclear waste and materials from deactivated nuclear weapons, nuclear submarines and other reactors. But the department is also the conduit for funds that go to innovative energy technologies, including those designed to reduce emissions of carbon dioxide, the most common greenhouse gas.

Browner, a lawyer and native of Florida, was legislative director for then-Sen. Al Gore (D-Tenn.) and later head of the Florida Department of Environmental Protection under then-Gov. Lawton Chiles (D). As the top administrator at the EPA under Clinton, she pushed for tough air-pollution standards that the agency defended against industry lawsuits all the way to the Supreme Court, where the EPA prevailed. In her new role, Browner will need her legislative and administrative experience in a job that will cover everything from climate change to energy policy.

The Obama administration faces an unusually big agenda in this area. The president-elect is expected to tackle cap-and-trade legislation that would put a lid on and then lower greenhouse gas emissions. European governments are expecting him to do that before a crucial climate-change summit a year from now. Meanwhile, energy industries and environmental groups are lobbying on issues such as offshore drilling restrictions, permits for coal plant construction and expansion, nuclear reactor permits and loan guarantees, and tax breaks for renewable energy.

In addition, the new administration has to figure out how to wield the power given to the EPA last year by a Supreme Court ruling that said carbon dioxide emissions should be considered a pollutant under the Clean Air Act. How the EPA uses that power could determine the fate of all sorts of energy-intensive projects. Yesterday, the EPA said it would not finalize rules on new electricity-generating units, disappointing industry lobbyists and punting the issue to the Obama administration.

An African American native of New Orleans, Jackson grew up in the Ninth Ward, the poor and largely black neighborhood devastated by Hurricane Katrina. Jackson's mother, stepfather and godmother fled the city as the 2005 storm approached. A few months later, in her swearing-in speech as New Jersey's environmental chief, Jackson said the devastation wrought by Katrina put her environmental work in a new perspective.



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Wall Street had a strong start to the week, after President-elect Barack Obama outlined his economic stimulus plans and indications that Congress will help Detroit's automakers stave off bankruptcy.

Over the weekend, Obama outlined plans to invest in infrastructure, energy and construction projects to spur the U.S. economy out of its year-long recession and create jobs. The proposals came after the Labor Department said the economy shed 533,000 jobs in November.

The major averages started the day higher, as the Dow Jones industrial average gained 269 points, or 3.1%, to 8,904, shortly into the session. The Standard & Poor's 500 was up 31 points, or 3.5%, to 907, while the Nasdaq added 43 points, or 2.9%, to 1,553.

According to TradeTheNews.com, Democrats in Congress and the Bush administration have agreed to the framework of a deal that provide loans to General Motors (nyse: GM - news - people ), Ford Motor (nyse: F - news - people ) and Chrysler, but not nearly the $34.0 billion the companies requested. Rather, the package is believed to be worth around $15.0 billion, and would help GM and Chrysler hold off bankruptcy until at least March, but may require management change. Shares of GM climbed 62 cents, or 15.2%, to $4.70 early Monday, while Ford gained 31 cents, or 11.4%, to $3.03. (See "Promises Of Rescue Come With Demands For Change.")

Still, the news out of corporate America was not all good over the weekend and Monday morning. More job cuts are on the way, from companies like 3M (nyse: MMM - news - people ) and Dow Chemical (nyse: DOW - news - people ).

3M announced over the weekend that it would cut 1,800 jobs in the fourth quarter, and on Monday morning the diversified company cut its 2008 earnings guidance to reflect the global economic slowdown. Shares of the Dow component were up 22 cents, or 0.4%, to $60.07, during the broad rally early Monday.

Dow Chemical said it will lay off 5,000 workers and close 20 plants in "high-cost" locations as part of its accelerated restructuring plans. The news sent Dow shares up $1.03, or 5.4%, to $20.03.

The outlook is also uncertain for MetLife, after the insurance company trimmed its fourth-quarter earnings guidance and said it could report a loss for the period. MetLife (nyse: MET - news - people ) still managed a $1.19, or 3.9%, gain, to $31.95.


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With President-elect Barack Obama vowing to plow hundreds of billions of dollars into the nation's infrastructure, some state officials are warning that public works projects will fail to effectively lift the country out of recession unless they are chosen carefully and implemented rapidly.

In a private meeting yesterday in Philadelphia with 48 of the nation's governors, Obama stressed the importance of identifying projects that could put people to work quickly, participants said. He raised the specter of Japan, which languished in a decade-long recession in part because massive spending on construction projects in the late 1990s flowed too slowly to boost economic activity.

During the two-hour meeting, governors from both parties assured Obama that they could break ground almost immediately if Washington were to put up the cash to make up for state budget shortfalls. But less than half of the $136 billion in projects they said were ready to go could get underway within the next six months, according to the National Governors Association. And choosing among those projects could prove politically difficult, some governors said.

"The problem is going to be deciding in a rational and targeted way how to spend that money," Virginia Gov. Timothy M. Kaine (D) said in an interview. "We all know about the bridges to nowhere. But we also know the projects that are critical to moving people around."

With the nation's economy in recession, Obama has pledged to create or preserve 2.5 million jobs over the next two years, primarily by dedicating federal dollars to rebuilding the nation's roads, bridges, schools and airports and to expanding sources of alternative energy. Democrats hope to send a spending package that could exceed $500 billion to the White House by Jan. 20, when Obama takes office.

In a recession that lasts only a few months, economists say spending on infrastructure would do little to revive the economy; public works projects typically take years to get underway. Even with projects that are ready to go -- meaning they have been designed, engineered and have cleared environmental and other bureaucratic hurdles -- only about a quarter of the overall cost is spent within the first year, according to the Transportation Department.

Because this recession is projected to extend well into 2009, many economists see infrastructure spending as a viable way to put people to work and keep money circulating domestically. Unlike tax rebates, which might be spent on foreign goods or used overseas, money for road projects would be used to hire U.S. workers and to purchase domestic gravel and steel.

The need for infrastructure improvements is enormous. Federal transportation officials have estimated that the nation should spend $225 billion a year to modernize and maintain its crumbling roads, bridges and transit systems.

But with 41 states facing budget shortfalls, many governors are cutting scheduled projects. Maryland and Virginia recently cut more than $1 billion each from their six-year transportation programs. North Carolina expects to cut $200 million by next June. And New York plans to eliminate 10 percent of its projects, according to the American Road and Transportation Builders Association.

The slowdown in public spending, combined with the worst housing bust in a generation, has devastated the construction industry. The unemployment rate among construction workers was 10.8 percent in October, well above the national average of 6.5 percent. Currently, nearly 1.1 million homebuilders, steelworkers and highway contractors are out of work.

"This is not going to be a situation where we're going to be putting money into something the contractors can't handle," said Bill Buechner, chief economist at the American Road and Transportation Builders Association. "There's plenty of capacity, and there's a lot of workers."

The devil, however, is in the details. What emerged yesterday in Philadelphia, and in ongoing discussions in Washington and in state capitals, is the concern that injecting such huge sums into public works projects could prove more complicated than anyone yet imagines.


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Facing an increasingly ominous economic outlook, President-elect Barack Obama and other Democrats are rapidly ratcheting up plans for a massive fiscal stimulus program that could total as much as $700 billion over the next two years.

That amount, more than the nation has spent over the past six years in Iraq, would rival the sum Congress committed last month to rescuing the country's financial system. It would also be one of the biggest public spending programs aimed at jolting the economy since President Franklin D. Roosevelt's New Deal.

Hints of a hefty new spending program began emerging last week. New Jersey Gov. Jon Corzine (D), an Obama adviser, and Harvard economist Lawrence H. Summers, whom Obama has chosen to lead his White House economic team, both raised the possibility of $700 billion in new spending. Yesterday, Obama adviser and former Clinton administration Labor secretary Robert Reich and Sen. Charles E. Schumer (D-N.Y.) also called for spending in the range of $500 billion to $700 billion.

Transition officials would not confirm that they are considering spending of that magnitude, but they made clear that economic conditions are dire, and suggested that Obama might be forced to delay his pledge to repeal President Bush's tax cuts for the wealthy.

Last week, Goldman Sachs said it expects the economy to shrink even faster by the end of the year, at a 5 percent annualized rate. Meanwhile, the Dow Jones industrial average dropped 5.3 percent for the week; and the nation's largest bank, Citigroup, sought government assistance to avoid collapse.

While Obama has set a goal of creating or preserving 2.5 million jobs by 2011, his economic team -- whose members are scheduled to be formally introduced at a news conference today in Chicago -- have yet to decide how that would be accomplished or how much it would cost.

Still, Austan Goolsbee, a spokesman for Obama on economic issues who is in line to serve on the White House Council of Economic Advisers, yesterday acknowledged that Obama's jobs plan will cost substantially more than the $175 billion stimulus program he proposed during the campaign.

"This is as big of an economic crisis as we've faced in 75 years. And we've got to do something that's up to the task of confronting that," Goolsbee said on CBS's "Face the Nation." "I don't know what the exact number is, but it's going to be a big number."

Republicans quickly criticized the idea of such a vast initiative, saying Congress should instead cut taxes to spur economic growth.

"Democrats can't seem to stop trying to outbid each other -- with the taxpayers' money," House Minority Leader John A. Boehner (R-Ohio) said in a statement. "We're in tough economic times. Folks are hurting. But the American people know that more Washington spending isn't the answer."

With financial markets fluctuating wildly and unemployment rising, Democrats want to push a stimulus package through Congress in January and have it ready for Obama's signature when he takes office Jan. 20. Over the weekend, the president-elect announced that he had instructed his advisers to assemble a massive jobs program that also would make a "down payment" on much of his domestic agenda.

The plan would include new funding for public-works projects to repair the nation's crumbling infrastructure, as well as a fresh infusion of cash to promote green technology and alternative-energy sources. It also would include targeted tax cuts for working families, students, the elderly and job-creating businesses that Obama touted on the campaign trail.

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Slideshow image
Representative Rahm Emanuel (AP)

Rahm Emanuel Mulling Obama Job Offer
44 | Democratic caucus chairman and longtime ally of president-elect weighs offer to serve as chief of staff.


































Rep. Rahm Emanuel talks with then-Sen. Barack Obama at a Chicago 2016 Olympic rally at Daley Center Plaza in Chicago. (Alex Brandon/Associated Press)

By Chris Cillizza
Rep. Rahm Emanuel, the fourth-ranking Democrat in the House, is strongly considering an offer from President-elect Barack Obama to serve as White House chief of staff, according to Democratic sources.

Obama's offer comes less than 24 hours after he scored a sweeping victory over John McCain -- racking up 349 electoral votes (and counting).

Even before Obama had secured the presidency, rumors that he would choose Emanuel ran rampant among the political chattering class.

Continue reading at The Fix»

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