President Obama’s victory means that as far as America’s domestic energy business is concerned, very little changes. The real consequences flow from the impact of what is happening in America on the wider global market. But there is also the tantalising possibility of a surprise.
As Joe Lelyveld wrote before the ballot closed, the one sure winner is “dysfunction”. The results, with a divided Congress and a close popular vote, did nothing to remove the risk of gridlock in Washington. Power is so fragmented that the potential for leadership on major policy issues barely exists. Read more