Trump Picks Rick Perry to Head the Department of Energy
In this clip from Industry Focus: Energy, Motley Fool analysts Sean O'Reilly and Taylor Muckerman talk about why Donald Trump picked Rick Perry, the former Republican governor of Texas, to head up the Department of Energy, which in 2011 Perry wanted to dismantle.
A full transcript follows the video.
10 stocks we like better than ExxonMobil When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and ExxonMobil wasn't one of them! That's right -- they think these 10 stocks are even better buys.
Click here to learn about these picks!
*Stock Advisor returns as of Nov. 7, 2016
This podcast was recorded on Dec. 15, 2016.
Sean O'Reilly: Trump named Rick Perry, former governor of Texas --
Taylor Muckerman: Longtime governor.
O'Reilly: I was going to say, I do believe he has the record for the longest-serving governor of Texas.
Muckerman: Yeah, 15 years or something like that.
O'Reilly: As the head of the Department of Energy.
Muckerman: Yeah, Secretary of Energy.
O'Reilly: Unsurprising that you pick a guy from Texas for the Department of Energy, but ...
Muckerman: But when he was running for president, in the 2011 debate, it was the department that he famously forgot that he was going to try and dismantle should he win the election.
O'Reilly: Do you think it's going to be awkward for him to walk into the Department of Energy? Like, "Hi, guys... "
Muckerman: "Remember me? I love you guys, I'm going to be a great boss!" No, that's definitely an interesting pick. Coming from Texas, again, you would think Rex Tillerson, oil, oil, oil, natural gas, natural gas, natural gas. You think, Perry, Texas, same thing. But they've actually been boosting their renewable production of energy.
O'Reilly: Yeah, as we have covered, Texas has all that wind, and God knows they have sun.
Muckerman: Yeah, they've been diving headfirst into solar. I think, like, 16% of their energy production in April this year came from wind, [and they had] enough [renewable energy] to power 4 million homes. So it's more diverse than most people might imagine Texas being. Though it's still the No. 1 oil-producing state in the union.
O'Reilly: Yeah. So I'm not suggesting that Mr. Perry was not being genuine in 2011 and 2012, because everybody is like, "He wanted to dismantle this agency, he said it needed to go away," I have to wonder --
Muckerman: Just like the new head of the EPA.
O'Reilly: -- things get said in elections.
Muckerman: Yes, they do.
O'Reilly: And I had to wonder, does he actually... you know?
Muckerman: Well, how serious could he be about it if he forgot that it's one of the departments he wanted to dismantle? He's probably very serious, maybe not quite as serious. But I mean, he forgot about it. So it wasn't top of mind. Granted, he probably had a lot on his mind in the debate. But it's interesting, but he has experience.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.