Talk about change for energy and tax policy.   On the heels of the release of Chairman Max BaucusMax BaucusLawmakers: Leave advertising tax break alone GOP: FBI firing won't slow agenda White House tax-reform push is ‘game changer,’ says ex-chairman MORE (D-Mont.) tax reform draft proposal on energy, the White House announced that he has been nominated for ambassador to China. Last week the big news in the energy policy world was the return of John Podesta to the White House, bringing real firepower to the administration’s Climate Agenda. 

When Baucus announced his retirement earlier this year, the speculation was that he would work with House Ways and Means Committee Chairman Camp (R-Mich.) to push tax reform forward as a legacy for both of them before the end of their terms in 2014.  While doing tax reform was still considered a long shot, their passion was what was keeping the discussion alive.  As recent as last Sunday, House Budget Committee Chairman Paul RyanPaul RyanNordic-Baltic parliaments underpin strong transatlantic relations Ryan defends CBO director amid backlash on Senate healthcare bill score Ryan attacks cable news in op-ed MORE (R-Wis.) opined that the passage of a two-year budget made tax reform more possible next year.

With Baucus leaving early, it is likely that Sen. Ron WydenRon WydenOvernight Tech: Black lawmakers press Uber on diversity | Google faces record EU fine | Snap taps new lobbyist | New details on FCC cyberattack FCC chairman reveals new details about cyberattack following John Oliver segment Election hacking fears turn heat on Homeland Security MORE (D-Ore.) would take over the Senate Finance Committee.  This may doom the kind of comprehensive tax reform that the two tax-writing committee chairman were contemplating.

For the energy industry with permanent tax incentives this provides some comfort.  For the renewable industry whose tax credits again expire at the end of this year, it may also provide relief as it may lend momentum to enacting a business extenders bill either stand-alone or as part of a larger package.  This is supported by the action taken on Thursday by Majority Leader Harry ReidHarry ReidDems face identity crisis Heller under siege, even before healthcare Charles Koch thanks Harry Reid for helping his book sales MORE (D-Nev.) to bring the business extenders to the floor with a unanimous consent request to be voted on in the Senate.

As tax policy is our de facto energy policy in the U.S., the change in leadership of the Senate Finance Committee is a significant event.   Wyden has said upon taking the helm at the Senate Energy and Natural Resources Committee that this is a unique time for our country, particularly on natural gas and a future of abundance.  He said America can have it all—economic growth as well as affordable electric bills.  Wyden supports tax incentives for renewables and utilizing the tax code to incentivize further development of clean energy technology.

Wyden’s departure for Finance Chairman would put Sen. Mary LandrieuMary LandrieuNew O’Keefe video shows CNN producer calling Russia coverage ‘mostly bull----’ GOP’s message on ObamaCare is us versus them Meet Mitch Landrieu, the 2020 dark-horse Dem MORE (D-La.) in the leadership position of the Senate Energy and Natural Resources Committee. Unlike Wyden she is a strong advocate of oil and gas, supports LNG exports and opposes a national renewable portfolio standard. Interestingly, she recently cosponsored the bill proposed by Sens. Christopher CoonsChris CoonsFuneral for the filibuster: GOP will likely lay Senate tool to rest Overnight Regulation: Labor groups fear rollback of Obama worker protection rule | Trump regs czar advances in Senate | New FCC enforcement chief Overnight Tech: Uber CEO resigns | Trump's Iowa tech trip | Dems push Sessions to block AT&T-Time Warner deal | Lawmakers warned on threat to election systems | MORE (D-Del.) and Jerry MoranJerry MoranThe Hill's Whip List: GOP undecided, 'no' votes pile up on ObamaCare repeal bill Proposal to privatize air traffic control struggles to win over critics Senate panel to reject Trump’s air traffic control plan in aviation bill MORE (R-Kan.) that would expand the use of Master Limited Partnerships (MLP) to renewables.  Her ascension to the chairmanship would be good news for the fossil fuel industry and for the Senate staying in democratic hands as she is reported to be in a tough reelection campaign.

Bode leads the energy practice at Cornerstone Government Affairs and has been a nationally recognized expert on energy policy for over 30 years. She served as an energy and tax advisor to Governor and then Senator David L. Boren of Oklahoma for nine years.  She has served as President of the Independent Petroleum Association of America, the national trade association representing America’s oil and gas producers as well as CEO of the American Wind Energy Association, the national trade association representing every segment of the wind industry in the United States.