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It's been more than three years since Barack Obama was elected on a pledge to "transform"� America. Two of the industries in his sights were health care and energy. Whether he will get to realize his vision of a government-managed health care system depends now on the Supreme Court, which will decide, probably in June, whether Obamacare is constitutional.

That leaves energy on the president's to-do list. It is no easy thing to pin down his position on energy matters, since he gathers disparate policies...