T Boone Pickens: We’ll see $5 at the pump in 2012

3 Comments on "T Boone Pickens: We’ll see $5 at the pump in 2012"

Kenz300 on Fri, 15th Jul 2011 2:26 pm 



$5 pump prices for gasoline will have a significant impact on consumer behavior and the economy. This will speed the transition to electric, flex-fuel and hybrid vehicles and the improved fuel efficiency they offer. Family budgets will be stretched causing people to reduce their driving and increase walking, bicycling and their use of mass transit. Our economy will suffer as a higher percentage of income goes to energy and less is available for food, shelter, clothing and other consumer purchases. We are in a period of transition from easy, cheap oil to one of increasingly higher energy prices and limited availability.

NCLambert on Sat, 16th Jul 2011 2:22 pm 



Let’s not forget the new technological advancements in making “crude” from algae. Scientists now have a strain of algae that matures within 48 hours, and after harvesting and centrifuging can have ready “crude to go” in hours. The problem is that there’s not enough production and the cost is still quiet high.

Shell bails on bio-fuel technology…
http://www.fastcompany.com/1723391/shell-ditches-algae-biofuel-during-year-of-choices.

Our fall from having inexpensive readily available crude is going to be hard and there are no “quick and ready” responses to the issue. Even electric cars won’t provide enough stop-gap to thwart our national discord and blame of public officials for ill-preparedness and lack of leadership.

Simply put, there needs to be a functional plan that’s funded by irrecoverable surcharges to oil companies if the replacement technology is going to be left to “big oil” markets to decide. It seems they’re just not interested.

NCLambert on Sat, 16th Jul 2011 2:32 pm 



Hope for bio-fuels…

http://www.greenoptions.com/wiki/algae-biofuel