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Online Stock Market Trading President Bush on Friday nominated a senior Treasury Department official with relatively little energy experience to be the next U.S. Energy Secretary.

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Stock Investing Course Deputy Treasury Secretary Sam Bodman, 66, would replace Spencer Abraham, a former senator from Michigan, who also lacked energy experience before he became head of the Energy Department and its $24 billion budget.

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Stock Market Game The nomination leaves just one cabinet post unfilled for Bush's second term, that of departing Health and Human Services Secretary Tommy Thompson.

Energy industry regulator Ofgem has proposed a billion investment in the UK's energy network in order to replace old infrastructure.

Stock Investing Game Bush said Bodman, a former chemical engineer who is also a former deputy secretary at the Commerce Department, would bring great talent to the Energy Department.

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Journal Prime Rate Street Wall ``We'll pursue more energy close to home in our own country and in our own hemisphere so that we're less dependent on energy from unstable parts of the world,'' Bush said in a brief appearance to announce the nomination.

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Stock Market News Bodman said he looked forward to the challenge.

Stock Investing Basics If confirmed by the Senate, Bodman said he would carry out a ``sound energy policy to ensure a steady supply of affordable energy for America's homes and businesses, and to work toward the day when America achieves energy independence.''

Stock Investing Software The new energy secretary will have to deal with high oil and natural gas prices and help the Bush administration win congressional approval to allow oil drilling in the Arctic National Wildlife Refuge. Moderate Republicans and Democrats in the U.S. Senate oppose the drilling plan.

Stock Market Trading Other major issues include carrying out an ambitious plan to open a long-term storage site for the nation's nuclear power plant waste and preventing other countries' nuclear material from getting into the hands of terror groups.

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Stock Market Crash Energy industry lobbyists and analysts expressed surprise at the choice of Bodman.

Stock Investing Tip ``Sam who? I've never heard of this guy,'' said one energy industry lobbyist, who added Bodman was virtually unknown to Washington energy policy insiders.

Stock Market Chart Although Bodman lacks much energy experience, it is widely believed among Washington energy experts that Vice President Dick Cheney directs major oil and gas policy issues. The White House has denied such involvement.

Online Stock Investing While record prices for U.S. crude oil and retail gasoline have been a high profile issue in recent months, the bulk of the Energy Department's work is focused on 17 national laboratories, research and nuclear weapons.

Stock Market Crash Of Bodman was recommended for the energy job by a former boss -- outgoing Commerce Secretary Don Evans, a Texas oilman and one of Bush's closest friends. That ``speaks volumes about Mr. Bodman's qualifications,'' Republican Sen. Pete Domenici said.

Stock Investing For Beginner Bodman's current boss, Treasury Secretary John Snow, also praised him. ``He's a terrific human being -- competent, able, skilled and I'm sure he's going to do just a super job,'' Snow said while traveling in Morocco.

Finance Journal Personal Environmental groups said Bodman would likely have little real influence on oil policies.

Stock Market Report ``This nomination is indicative of a continuation of (Vice President Dick) Cheney wanting to keep the lead,'' said Karen Wayland, legislative director of the Natural Resources Defense Council. ``I think it's been pretty clear over the last four years that the energy plan the administration is pushing is taking its direction from the vice president's office.''

Finance Investing Stock Market The American Petroleum Institute said it looked forward to working with Bodman and ``pursuing a sound national energy plan for our nation's future.''

Wall Street Journal Com Born in 1938 in Chicago, Bodman became a professor of chemical engineering at Massachusetts Institute of Technology and left teaching in 1970 to join a venture capital firm.

Stock Market Investing Advice After that, Bodman went to work for a then-tiny Boston investment firm known as Fidelity Investments, where he remained for 17 years and eventually became president. From 1987 through 2001, he was chairman of Cabot Corp., a specialty chemicals company based in Boston.

Street Trader Wall In July 2003, as deputy secretary of the Commerce Department, Bodman traveled with current Deputy Energy Secretary Kyle McSlarrow to Murmansk, Russia, to discuss exports of Russian fuels to the U.S. market.

Indian Stock Market Reuters - 12/10/2004

Topic: Energy

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