This is driven by a combination of factors: low power prices due to the development of unconventional gas, the lack of incentives for low-carbon power and rising costs of nuclear power.

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In fact, one could reasonably argue that Hess is even understating the lack of incentives in the Pell program for controlling costs.

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Several major political issues are still looming over Wall Street: the lack of significant, sustainable job creation through incentives for starting or expanding small businesses, the housing inventory glut, overspending and the national debt, and the Dodd-Frank Bill (only 5% of which has been implemented to date).

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Some of the issues that need to be addressed, he says, are the lack of any tax on aviation fuel, fiscal incentives for alternative-fuel vehicles, and the need for a carbon tax to replace the government's ill-directed climate-change levy.

ECONOMIST: The Liberal Democrats