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The Price of Energy
2005 August 25
© 2005, Libertiny Financial LLC
Fuel prices are high. But I don't see prices coming down in the long run with the amount of fuel that China is now using and is projected to use. India is also starting to have more vehicles on their roads so demand is getting a lot higher than refinery production.
The price for natural gas (home heating in some States) has skyrocketed as well. All prices are lower by the high levels set in the early '70s (adjusted for inflation) but that's not making me feel better right now.
What we need is an energy policy that significantly decreases our use of oil with energy produced by wave action and water thermal differential in coastal areas, as well as wind, solar, and nuclear. The key thing is to rapidly develop a comprehensive federal plan that uses all of these types of power production and implements the plan quickly so that we can get new sources of power on line fast. This will take close cooperation and compromises between the utilities, government, and the organizations looking out for our environment.
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