Greenspan raises red flag on energy

Aspen – Amid soaring fuel costs and diminishing world oil supplies, former Federal Reserve Chairman Alan Greenspan warned Thursday that the nation needs to develop alternative energy sources or risk dire economic consequences.

Greenspan called for a mixture of solutions, from plug-in hybrid cars to ethanol to nuclear power, to diminish the country’s reliance on foreign oil.
Greenspan also sounded alarms about dwindling natural-gas supplies and the dangers posed by global warming.

He called for a range of solutions, including developing hybrid-fuel cars with rechargeable plug-in batteries and developing crops of switchgrass as a rich source of ethanol, a solution President Bush mentioned in his State of the Union address.

Greenspan said the nation may also need to develop more nuclear facilities and import more natural gas.

Denver Post