New House of Representatives energy policy report out, see details at NEI, excerpt below of key findings — please note the finding that current prices are demand driven and note the wake-up call regarding catastrophic supply shock, emphasis mine:
- the current period of high, volatile oil prices is demand-driven, â€œand not caused by supply restrictions instituted by producers or political upheavalâ€
â€¢ given todayâ€™s tight global markets with little excess capacity, the United States is vulnerable to â€œcatastrophic supply shockâ€ in view of current geopolitics
â€¢ the United States must pursue production and conservation; these are not â€œeither orâ€ options
â€¢ reduction of demand for oil in the transportation sector is essential, as this sector consumes more than two-thirds of the countryâ€™s supply
â€¢ the government must strengthen corporate average fuel economy standards to help reduce demand for oil and enhance domestic competition
â€¢ in addition to developing alternative transportation fuels, the country must pursue aggressively renewable energy, clean coal technology and â€œnext generation nuclearâ€
â€¢ in turning away from natural gas as a baseload source of electricity, the country must redirect its use in industries as feedstock or primary energy and not a â€œsubstitute for fuel-switchingâ€
â€¢ nuclear must be the â€œprimary generator of baseload energy, thereby relieving the pressure on natural gas and dramatically improving atmospheric emissions.â€
Link to full report.Â My only comment, Pournelle proves to be prescient once again. In his seminal work “A Step Further Out” Jerry predicted something to the effect that Oil would become to valuable to burn. (good luck finding the book, I have bought aproximately ten copies of this book over the years, and everytime I have lent it out it has never come back. The reason has always been something to the effect of “Oh, it was an important book and I wanted so & so to read it”… so&so then gives the same story. Results: I no longer have a copy and can’t find one.)
Washington Group from US bids on cleanup of Brit reactors here.
Â I can also see that’s it time to write that article I was going to on high-speed transcontinental mag-lev rail lines.