Long before George W. Bush signed the new US energy bill (Energy Policy Act of 2005) into law on Aug. 8, the clamors of foul play rang across the nation. It was proclaimed to be everything from a massive boondoggle (which parts of it most certainly are) to an outright assault on the environmental integrity of the nation (which it most certainly is not). At the bottom of the hand wringing, wall pounding, finger pointing and name calling is a single, nasty fact. As an energy consuming nation, we Americans must be the most spoiled group on this small planet.

Living on a tradition of abundance that no longer exists, we have consistently failed to provide a solution for our dwindling energy supply whilst we continue to expect - no, demand - cheap energy as some sort of God-given birthright. If that were not enough, we have politicized the process of working toward solutions. So, what was designed to be a rational process by America's founding fathers turns into a tawdry circus wherein both parties - the public and the politicians - put their interests above those of the nation. How else can one explain the massive provisions for a near doubling of ethanol production (4 billion gal to 7.5 billion gal in 10 years) that make America's mid-western corn farmers, already one of the most heavily subsidized groups in the nation, the largest beneficiaries of this new energy bill? Or, look at it this way - at nearly 2,000 pages there just has to be something a little special for everyone. It's the American way.

But don't give up on the 2005 energy bill. Many of the provisions of this US $11.5 billion, 10-year program make sense. There are positive incentives for our industry, although the radical environmental factions have managed to keep large areas off limits for exploration and production. There are provisions for the nuclear industry that make sense also, since oil and gas, and coal, can't meet energy demand today or tomorrow. On balance, it is a good first step toward some meaningful solutions. And that must be good since, in true American style, nobody is giving up any of their wasteful energy consuming habits here just to help the other guy.

To make sense of it all, we asked Hart's Governmental Affairs Group, with offices in Washington and Houston, for an analysis of the Energy Policy Act of 2005 and its likely impact on the upstream industry. Our Government Affairs Group has as 10-year history of interaction with the government agencies and Congressional and Administrative members for energy related issues. See page 35 of this issue for their analysis of the energy bill.

And now, some good news. We are glad to welcome on board two new editors at E&P. Don Francis joins us as editor, drilling and IT. He is a seasoned veteran of this industry and many of you will know him from his stints at Baker Hughes, BJ Services or the Oil & Gas Journal. Don will be responsible for all our coverage of drilling and IT technology and management issues.

And Evgeniy Bogounov joins us as Russian editor. Formerly with Schlumberger and Yukos, he has a wealth of experience in the Russian and FSU upstream industry. This month begins Evgeniy's regular quarterly analysis of Russian activity. If you work in, operate in or have an interest in the Russian upstream industry, Evgeniy is your man.

When you see them (Offshore Europe for sure) join me in welcoming them to the E&P editorial team.

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