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1. WHITE HOUSE

Industry, enviros brace to see Obama's second-term approach to policy

President Obama's re-election is being welcomed by environmental groups and oil companies alike -- albeit for starkly different reasons. Environmentalists are optimistic that a second term will bring renewed focus on the perils of climate change and an aggressive government response. But the oil and natural gas industry hopes the re-elected president follows through on his campaign trail calls for exploiting U.S. fossil fuel reserves as a way to grow the economy. The divergent expectations raise the question: Which Obama will show up after Inauguration Day?

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