A new strategy for a new energy secretary

Steven Chu, a Nobel-winning scientist, was a secretary for a different era.

Friday’s column, available on houstonchronicle.com:

We need a change of plan.

As President Barack Obama searches for a replacement for Steven Chu, who said last week he would step down as energy secretary, he needs to search for a new energy strategy as well.

After four decades of policies based on a scarcity of energy resources, we need a plan that capitalizes on abundance, that recognizes the tremendous fortuity that increased domestic production represents.

“There’s a tectonic shift in terms of the opportunity,” said Stephen Arbogast, a University of Houston finance professor and former Exxon Mobil executive. Rising domestic production “really is medicine for a lot of ills we’ve struggled with for decades.”

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About The Author

Loren Steffy is the business columnist for the Houston Chronicle. His column appears in on Wednesdays, Fridays and Sundays. He is also the author of "Drowning in Oil: BP and the Reckless Pursuit of Profit," and "The Man Who Thought Like a Ship."