Greenspan: Recession chances ‘50% or better’

Former Fed chairman, speaking at Houston conference, also promotes nuclear power and electric cars.

…On energy issues, Greenspan said the United States should embrace nuclear power to help solve its energy needs, called for greater use of electric cars, and said limiting carbon emission will be much more difficult and costly than most people realize.

Using electric cars – and cutting into the 11 million barrels of oil a day or so conventional vehicles use on U.S. roads – is one of the surest ways to reduce oil consumption and bring down oil prices, Greenspan said.


He was then asked where the electricity to power those cars should come from.

“Simple, they’re going to have to use nuclear,” the former central banker told Cambridge Energy chairman Daniel Yergin during an informal Q&A-style dinner discussion.

His response elicited cheers from the crowd, heavy with utility executives in this third day of the program that focused on power generation.

CNN