A 'Bottomless Well' of Energy?

'Bottomless Well' authors, Huber and Mills believe that within 20 years electricity will be the dominant fuel for transportation.

Published: 06-Mar-2005

DOES CRUDE OIL ABOVE $50 have you scared? The conventional wisdom is that prices like these are recession-makers, but so far it hasn't been true. Motorists just keep pumping the gas and buying up a storm at Wal-Mart Stores (WMT), too -- and the economy keeps pumping along.

But what's really scary is the nightmare vision of oil trading at even higher prices. There's no shortage of doomsday peddlers out there talking about $100 oil. But remember, when the Nasdaq was at 5,000 almost exactly five years ago, there were plenty of people who said it was headed to 10,000.

Today's oil bulls have their stories. Accelerating demand from China and India. Dwindling reserves. Geopolitical instability. Terrorism.


The forecast consumption of coal, nuclear and renewables have been increased from earlier predictions, while petroleum and natural gas consumption are lower.

The United States accounts for 2,544 MW of total installed capacity and 1,914 MW of operation, and the difference is due to a lack of steam due to over-exploitation of the Geysers field in California.

February 28,2006 address to National Governor's Ethanol Coalition.


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