It's not all Obama's fault: His plans to rebuild America's energy infrastructure have been hampered by the recession, and his efforts on global warming have been stymied by Tea Party wackos and weak-kneed Democrats in Congress.

Bloomberg is famously impatient with beltway politics and believes that to get anything done you need to work from the ground up.

It's not all Obama's fault: His plans to rebuild America's energy infrastructure have been hampered by the recession, and his efforts on global warming have been stymied by Tea Party wackos and weak-kneed Democrats in Congress.

So if you want to know how Exxon Mobil can make $10 billion profit in 90 days, just look around. The whole world was built for them.

The coal industry is an even larger part of the Australian economy than it is of the American, and it has an enormous amount of political power.

Nowhere has the political power of coal been more obvious than in presidential campaigns.

When it comes to energy, cost isn't everything - but it's a lot. Everybody wants cheap power.