U.S. Energy Secretary Ernest Moniz, appointed by President Barrack Obama, earlier this week makes a comment that marks a significant shift in the administration’s energy policy. “The nature of the oil we’re producing may not be well-matched to our current refinery capacity,” Moniz said. MLV & Co. E&P analyst Chad Mabry tells TheStreet’s Joe Deaux that this is a key change in rhetoric by the president’s cabinet, but he doubts anything will happen in 2014, an election year. Mabry also points out that U.S. energy companies have workaround ways to deliver energy products abroad.
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