In Abu Dhabi

THE second day of the World Future Energy Summit might be in Abu Dhabi - 7,000 miles away from the historic occasion that is US President Barack Obama's inauguration in the United States.

But it certainly hasn't been spared the excitement that the event has triggered, all the way from Washington across the Arabian seas.

Almost every speaker that spoke at the summit made a reference to the "historic day" that will see Mr Obama become the 44th US president. And more revealingly, every one of those speakers who evoked his name felt that an Obama administration is exactly what the world needs to achieve a more sustainable future, especially in terms of energy.

There is no doubt that Obama's global popularity have been aided by his stance on climate change and renewables. As JP Morgan's managing director of commodities, Ms Blythe Masters, pointed out to the conference, Mr Obama "ran his campaign on a promise that emphasised greatly climate change reforms".

With his inauguration, you can say industry players in what can be deemed as one of the global economy's hottest sectors is watching Mr Obama's steps very closely.

Speaking to reporters, Deutsche Bank's global head of asset management, Kevin Parker, said it was "absolutely critical" at this point in time that governments send the right price signals and adopt a consistent policy towards energy, and to a larger extent, carbon pricing to advance the renewable energy sector.

He fully expects Mr Obama to step up to the job, and complete the radical shift in stance for the US on climate change policies. This will lead to other countries having to cooperate with the rest of the world to work out a global deal, he said.

Mr Paul Dickerson, former chief operating officer from the US Energy Department, who also spoke the reporters, said there is no doubt Mr Obama's administration will herald a change in many areas.

In fact, many speakers, as capitalist and free-market as they might be, spoke of welcoming more government intervention in the renewables sector. As Mr Dickerson puts it, "it's not negative regulation, it's putting the right incentives and certainty to the market. "

"The US shot ourselves in the foot in solar and wind, by not providing certainty like governments in Japan and Germany have," he added.

Well, he - and the majority of those 15,000 delegates at the future energy summit - were not disappointed on that Tuesday night, if they were looking for "signals" from Mr Obama.

Many of these delegates spoke about the inauguration all day, and many rushed back to hotels to wolf down dinners before catching the ceremony on CNN or SkyNews at 8.30pm UAE time.

The one part of Mr Obama's speech that would have leapt out to them was this: 

"For everywhere we look, there is work to be done. The state of the economy calls for action, bold and swift, and we will act - not only to create new jobs, but to lay a new foundation for growth. We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together. We will restore science to its rightful place, and wield technology's wonders to raise health care's quality and lower its cost. We will harness the sun and the winds and the soil to fuel our cars and run our factories. And we will transform our schools and colleges and universities to meet the demands of a new age. All this we can do. And all this we will do."

We will harness the sun and the winds and the soil to fuel our cars and run our factories - the market signals can't get any clearer than that for the US. And it seems a Green New Deal just dawned  on America.

Where I was watching it in Abu Dhabi, there was a collective "hmmm" and/or nod of approval at that part of the speech. At many points in his perfectly delivered speech, rounds of clapping also broke out. 

During the day, before the ceremony at one particular press conference, CNBC anchor Stephen Sedgwick had asked the room if they felt whether this current financial economic and financial crisis will be the making or breaking of a new age of renewable energies for the world.

"Those who feel it'll be the making, raise your hands," he said. In a room of almost 100, 99 per cent raised their hands. "Those that feel it'll be the breaking?" One lone hand shot up.

But it didn't matter. The optimism was infectious. It bore itself out throughout the rest of the night, and I bet - the rest of the summit, which has one day left.

It seems rather cliche, but delegates were definitely riding on a sense of hope - brought on by the momentous occasion that was the change of guard in the US administration - 7,000 miles away, though it may be.