I am a firm beleiver in the implementation of solar power. With widespread use, this technology has the ability to produce enough renewable energy for millions of homes in the United States. Electricity generated from solar power can be produced at the site of intended use, eliminating the need for massive additions to the national grid. Panels installed on the roof top of your home can make enough electricity to charge batteries or fuel cells for your car and heat the hot water of your home, removing altogether or significantly reducing the consumption of gasoline and heating oil. This has a double positive effect of also cutting greenhouse gas emissions. In addition, a massive government initiative would have the power to create thousands of new jobs for contractors doing installations and construction.
Al Gore has a vision, he has passion, and he is an environmentalist. I am not an expert on the science of global warming. I have some friends who are experts in atmospheric chemistry, but have never talked to them extensively about their findings, or any other atmospheric climatologists either. However, I do know there is a large body of scientific evidence supports the theory on Global Warming (GW). In this case, I feel comfortable saying Global Warming is real, and we should be doing something about it. Even if the warming itself is just a trend which is subject to fluctuations, it is clear to me that our Earth is suffering from human impact.
There has been a lot of talk recently about how changes in the economy are affecting the energy sector. This is an extremely important topic to anyone who has money invested in mutual funds, stocks, their 401(k), mortgages, housing or any retirement portfolio. Why? Because the face of the stock market, as we know it, is about to change. The past decade has seen large oil companies reigning supreme posting double digit growth, with natural gas vying for a close second. It is indisputable fact, that these products are natural resources. And it is also indisputable fact that these resources are finite, and their steadily increasing consumption will lead to a jump in price as the Earth’s reserves dwindle. Therefore, at some point in the future, any company which relies solely on oil or gas supplies will be bound for failure. This can be validated by the divestment of the world’s largest energy companies into renewable sources such as wind and solar.
The New York Times reported in late October that investors are nervous about prices for fossil fuels falling, which could cause alternative energy start-ups to incur heavy losses or declare bankruptcy as their market dries up. It is already difficult enough to obtain venture capital or equity financing in these times. Fluctuations in energy prices add considerable uncertainty to alternative energy (AE) technology based companies. It is well known that this industry is currently extremely vulnerable and will probably require strong government backing by means of subsidies and research financing. Personally, I think this would be a tremendous investment in our nations future - much better than investing in other securities that may continue to decline in value, such as American automakers.
Let it be known, that I have full respect for American car manufacturers - I just believe that are much to slow reacting to market forces and have been at the mercy of American oil companies for too long. Why else would they continue to market and manufacture the gas-guzzling SUV’s when all other nations across Earth are making smaller, lighter, faster cars which run on less fuel. I find that absurd, and unless Detroit mounts a drastic change and realizes that the future is electric and hybrid vehicles, they will be out of business by Q4 09.
This is my challenge to the next president of the United States: many of us see a new way forward, and hope that you can realzie this vision. Our hope is that you can solve both the economic and energy crises simultaneously with one blow: bringing alternative energy sources and electric vehicles to market will no doubt require large amounts of man power and resources while slashing our most damaging expenditure - oil. Creating thousands of new jobs for AE contractors, mecahical and electrical engineers, and scientists to design and install solar panels, geothermal systems, wind turbines nationwide. This would destroy our addiction to oil and usher in the green century we all so desperately need.
Much has been made of the recent drop in oil prices world wide. As we all understand, the price of almost everything in the U.S is directly tied to the cost of non-renewable fossil fuels. This is an extremely unfortunate situation, which we hope to change in the next century, the ‘green’ century some are calling it. I have seen more commercials and ads claiming their product are ‘going green’ in the past month than ever before. Apparently, even the oil companies are going green if you believe BP’s television ads, hardly a trustworthy source of information. The truth is, we could only hope for that type reality right now. Our automobiles are no cleaner than they were last year and our consumption of oil has steadily increased, even with record prices. You should note that value of stocks on the London Stock Exchange skyrocketed, bolstered by record profits of BP - British Petroleum. BP’s earnings were up 83% this year, meaning profits nearly doubled!! Profits increased from $4.4 billion to $8.05 billion this year alone, due to an increase in energy prices.
However, as Thomas Friedman of the New York Time’s reports, the recent (temporary) slump in energy prices has sent the alternative energy (AE) companies scrambling. AE investors are watching their stock holdings crumble as people run to the gas station to buy their $2.89/gallon petro. This is a real shame, however it is fleeting. I think we can all safely assume that after the election prices will resume their normail uphill climb and alternative energy technologies will once again be in full demand.
Therefore, we should all be prepared for a huge spike in gas prices at the end of this year. For the record, it should be noted that in July regular gas was costing $4.11 in the US and oil was selling for nearly $150 a barrel, which is now down roughly 25% at the pump and 50% less for a barrel of oil ($64.02 today on NYME). With the economy diving and spiking wildly, consumer confidence has steadily declined leading to less spendong on recreational items. In turn, this has led to a decrease in fuel consumption and with an oil glut, prices have bottomed out. Thankfully, OPEC has been on the case and called an emergency meeting in Switzerland this week to discuss reducing supply. In fact, OPEC has decided to cut supply by 5%, or 1.5 million barrels a day beginning November 1, 2008. Be prepared.
Ali Naimi of Saudi Arabia - Minister of Petroleum and Mineral Resources, Oct. 23 in Vienna.
If I were a commodities trader, I would be stocking up on barrels of oil. Imagine oil bought at $65/barrel - what profit could be made when it reaches $150/barrel in a few months? If you had the capacity, individuals could store large volumes of gasoline for a personal inventory in preparation for the eventual price spike.
I seriously hope this company takes off !! (No pun intended) But seriously, a car that runs on compressed gas? How genius is that! Big thanks to my brother Seth for pointing this out to me. I am seriously excited about this technology, developed by ex-Formula One engineer Guy Nègre . Think about how a car which produces zero emissions, travels long range with low horsepower could transform commuting in America today, reinvigorate our automotive culture and promote environmental awareness? Would these vehicles be socially acceptable? What if, the vehicle cost $17,800 and could travel up to 1,000 miles with one fill up and a top speed of 96mph? Granted, a 75-horsepower engine may not sound impressive, but when you consider that Zero Pollution Motors (ZPM) is selling a car capable of running on compressed air, the feat becomes remarkable.
Popular Mechanics reports that ZPM, a New Paltz, N.Y. start up, has acquired licensing rights from MDI- the original Luxembourg-based inventor of the compressed air engine and plans to begin manufacturing in the Northeast U.S. by 2009. MDI is an exciting young french company, which self reports financial investment from AirFrance. In my brief international expereince, I have found that most other countries are embracing new clean technologies, leaving the U.S. in the dust. Europe and India are already deploying many small, fuel-efficient vehicles which are profitable. Where is the American part of that equation? When you ask Ford or GMC, they show a complete lack of global integration into the American market, which may eventually be their downfall if they continue to produce vehicles reliant on petroleum.
In 2007, it was reported that the original Air Car, called CityCAT would only be marketed in India’s most congested cities for a retail price of $12,700 with a range of 125 miles hitting 68 mph. It would be forced to refuel at gas stations equipped with custom air-compressors, requiring $2 for to fill the car’s carbon-fiber tanks with 340 liters of air at 4350 psi in just a few minutes. However, the car also sports a built in air compressor which can self-refuel the vehicle in four hours when plugged into the electrical grid. For all the skeptics, I would highly recommend reading MDI’s engine technology pages off their homepage, which go into much more detail than I have at this time. Enjoy and good luck!
This is a big step. I have been following the development of Tesla Motors for two years, and they are finally hitting mainstream! Tesla has been achieving public recognition for their contribution to the development and public acceptance of the electric vehicle. Here, we have the world’s first electric powered sports car which can compete in terms of performance with a Chevy Corvette, Porsche, or Ferrari. Not only that, but it was engineered and manufactured in the United States. This is something I can be truly proud of.
The Tesla was designed to break the stereotype that electric cars are slow and unsightly. Unfortunately, this has traditionally been the case when one considers the Honda Insight or even hybrid-gasoline powered cars such as the Toyota Prius. The styling of these cars leave much to be desired. The Tesla beats all hybrid vehicles hands-down by eliminating the need for all petroleum for fueling. This is superior even to the much touted Chevy Volt, which still requires gasoline for daily driving and with a 50 mile projected range for battery only power. This is in stark contrast to the Tesla which offers roughly 240 miles on a single charge.
The car can be charged at home or on the road in roughly 3.5 hours. The instrument panel contains an indicator to display the current battery capacity, analogous to the typical fuel gauge. Above is an image of a Tesla Roadster being charged, with a close up of the plug. The image was supplied by a Tesla Roadster blog which contains some cool images. Below, I found what is now a very rare site - an actual image of an owner charging his electric vehicle. You can notice he actually owns two cars and the plugs are extended from a charging base to the vehicle parked in his driveway.
The U.S. Army has launched several new domestic energy conservation projects to join their existing platforms. Led by the Assistant Secretary of the Army for Installations and Environment Keith Eastin in conjunction with the Senior Energy Executive for the Army, Paul Bollinger, the organization aims
to reduce energy consumption and increase efficiency while operating, building, and maintaining structures and bases. I think this is a major advancement in our national understanding of the current energy crisis. The military has traditionally been at the forefront of technological developments with full financial support from the government. Improvements in efficiency coupled with an increase in solar energy production could make a formidable impact on our energy usage over the long term.
By increasing alternative and renewable energy sources, the Army beleives it can significantly reduce the $3 billion it spends on energy annualy. The Army wants to serve as a model for the rest of the military and nation by installing a 500 MW (megawatt) solar thermal plant in Fort Irwin, CA in the Mojave Desert, purchasing 4,000 small-neighborhood electric vehicles for maintenance and operations staff use, developing biomass fuel projects in conjunction with the Navy, and entering into pilot energy savings contracts with the private sector. New solar projects are in the works for Fort Sam Houston, TX and Fort Carson, CO. At Forst Shaffter, HI photovoltaic cells are being installed in barracks as an ambitious recycling program begins in Fort Bragg, NC.
Today marked a significant milestone in the course of American history. The single largest non-military expenditure ever in US taxpayer dollars was approved by Congress and the President allocating $700 billion for funds aimed at refinancing the banking and lending industries. On Monday, a bill proposed by the Senate failed in the House by a margin of 228-205, with the majority of Republicans voting against. I must commend the Congress for not flashing a green light on first blush, as they wisely held out for key incentives which were included in today’s revision, passing 263-171 in the House. The initial legislation was denied by a majority of Republicans who could not acknowledge such a massive government intervention in the financial industry. This would go against their core beliefs in free markets and probably upset most of their constituents just a month before elections. In it’s essence, the bill will give taxpayers equity stake in potentially risky ventures.
However, on the bright side, the final allocations included several sweeteners which will give new life to the wind and solar energy industries, at least for the near future. Wind power subsidies, in the form of tax credits, are extended for one year. I found this slightly unhelpful, as wind energy producers will have to lobby again during the next budget hearing and redouble their efforts annually. For a government who is supposed to show strong leadership in the energy sector, this is a feeble accomplishment, compared to all the hoorah surrounding offshore oil drilling. But more positively, solar energy subsidies were extended for eight years, pledging support to homeowners who install these electricity generating systems.
As the dust clears between Senators and Congressional leaders in the House, it is fairly obvious that improvements in alternative energy have garnered enough support to make or break critical decisions on the floor. It is also obvious that the House is far more supportive of alterantive energies. This is clearly evidenced by their original counter bill proposed on Sept. 26 which included most of the approved incentives. According to the Wall Street Journal, a modern $40,000 solar power system, which is sufficient to completely power most homes, is only eligible for $2,000 in federal credits. The new bill would give homeowners as much as $12,000 federal dollars on new installations. This is a significant milestone for personal solar energy use, and I hope to see this rise to its full potential during my lifetime as a mianstream fuel source.
