First we watched the bungling of the financial crisis.
Then GM demands the AIG treatment. Now the energy industry
is stomping at the bits to get its helping of taxpayer
monies. We are witnessing the best engineered and most
profitable scams in history in which the financial industry
looted well over one trillion dollars of taxpayer money.
The spectacle is awesome. The amounts of money we are
talking about are incomprehensible for the poor souls who
are called upon to pay for the mess. In the meantime,
banks are laundering taxpayer monies. CEO's and investors
are chuckling while comfortably looting the savings of the
working stiffs. Who wants to run a decent business
anymore? You just have to learn how to steal money,
legally!
The media have already decided that GM is going to get the
money. But bets are still being taken on who gets the loot
in the "Energy Race to Riches".
"Solar Electricity" and "Wind Power" are the two favorites.
"Nuclear Power" has the best record but has been hobbled
with a high handicap. And then there are "Electric Cars",
"CNG Cars", and cars holding one person and one shopping
bag. There is "Ethanol", a former favorite, and a new
offspring called "Cellulosic Ethanol". Even "Public
Transportation" has been trucked in to stand at the
starting line. And then there are several losers that are
guaranteed to get a share of the prize money for just
participating.
Unfortunately, all present proposals for solving the energy
crisis look more like a horse race with several highly
touted favorites than a well conceived plan to prepare the
USA and eventually the world for a new, long-lasting energy
future.
In the following we leave the world of high stakes gambling
with other people's money, of special tax preferences, and
with rules like "heads I win - tails you loose".
Instead, we are going to look at some simple facts, try to
learn from the past, and attempt to provide for the future.
The most pressing problem facing the US is the steady and
accelerating drain of US currency to foreign, petroleum
exporting countries. Every year the US pays more than half
a trillion of dollars for imported crude oil.
Additionally, we are going to spend more than a trillion
dollars for the failed effort of gaining control of Middle
East petroleum reserves. Continuing crude oil imports are
increasing our indebtedness to hostile countries and are
providing the monies for terrorists, who keep us under a
permanent threat. Our efforts to neutralize these threats
do not come cheap.
The conclusion is simple and has been drawn repeatedly; the
USA must regain energy independence!
A few billion dollars, spent wisely over the last two
decades, could have done wonders for energy independence.
However, all efforts were successfully defeated by well
connected lobbyists at home.
We can become genuinely energy independent by one single
means only; we must produce energy on US lands!
The energy lobby says: it cannot be done. However, their
opinion is biased at the tune of several trillion dollars.
US energy industry fears low oil prices. There are
approximately 25 billion barrels of petroleum left in US
oil deposits. The US petroleum industry is looking at the
difference between $175 and $75 per barrel. The difference
represents a cool $2.5 trillion. When talking about
trillions of dollars we are talking real money. This money
is there for the taking!
The world and the US are going to run out of crude oil
soon. It does not matter if it takes forty or seventy five
years. Oil reserves will be depleted. End of discussion!
Energy drives world economies. Lack of energy will lead to
the immediate collapse of economies. World energy
consumption is still predominantly based on fossil fuels.
Combustion of fossil fuels discharges huge amounts of
carbon dioxide into the atmosphere, which creates global
warming. Global warming causes sea levels to rise, brings
on worldwide climate changes, and will lead to global
overheating when not stopped in the near future.
The world consumes energy in three forms; electric power,
liquid fuels, and heating gases. We can generate electric
power without harmful emissions with nuclear fuels, hydro
power, wind power, and solar power. Wind power and solar
power are still too expensive and must be further developed
before they can and will take over most of electric power
generation.
Intermittent wind and solar power cannot be used
effectively as long as we have not succeeded in developing
storage facilities for storing electric power in huge
quantities. This technology has received minimal attention
despite its tremendous profit potential.
Nature has made fossil fuels from biomass thousands and
even millions of years ago. There is no reason that we
cannot imitate nature. In fact, we have many more
technical capabilities today than nature ever had. For
mysterious reasons ($2.5 trillion?) there are no efforts to
find out how nature converted biomass from fossil fuels.
If we ever learn to mimic nature, we will have solved all
our energy problems for the next several centuries.
Most importantly, we will be capable to convert free solar
energy into abundant, inexpensive electric energy and into
plentiful, affordable transportation fuels. We will still
be able to cross oceans in airplanes, our national defense
will not be threatened by lack of motor fuels, terrorists
will run out of money, and everybody can buy cars one
favors and can afford.
----------------------------------------------------
Dr. Hemsath recently published the book: CLIMATE CHANGE -
GOLD RUSH OR DISASTER? For 50 years he has worked as
scientist, process engineer, Corporate Vice President of
R&D, Company President, CEO, and Inventor. He holds more
than 60 US Patents. He is working on a new book: "THE
SOLUTION FOR ENDING GLOBAL WARMING AND CLIMATE CHANGE". Go
to http://www.thermalexpert.com
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