President Bush has long seemed more concerned with cutting taxes than with cutting carbon emissions - until now, perhaps.
With gas prices soaring and global warming becoming an unavoidable political issue Bush ordered federal agencies today to begin crafting regulations that would reduce gasoline consumption and greenhouse-gas emissions from automobiles.
The regulations, meant to be in place by the end of 2008, should jump-start the President's goal to slash gasoline consumption by 20% over the next 10 years.
What will America's energy complex look like 10 years from now, and how you trade it, today?
Eric Bolling says he’s suspicious of today’s announcement, and suggests the decision has more to do with politics than anything else because it could be attractive to the corn lobby.
Dylan asks what’s the energy trade?
Eric replies Canada. He tells investors to get long Canadian energy as well as Chevron (CVX).
Guy Adami thinks investors should get long energy infrastructure plays. He still likes Fluor Corp (FLR) and also tells investors about another company in the space called McDermott International (MDR). Guy says owns MDR on a pull back.
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Trader disclosure: On May 14, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Strazzini Owns (HLT), (MER);Bolling Owns (ICE), (NMX), (XOM), Gold, Silver, Coffee, Sugar Bolling Is Short S&P Futures Bolling Is Short Nasdaq Futures