Trillion Dollar Opportunities
December 28, 2011
During the past decade, technologies have been developed and demonstrated at scale to economically produce natural gas from shale rock formations. As a result, the Energy Information Administration (EIA) estimates that the U.S. has about 800 trillion cubic feet of technically recoverable shale gas. Just ten years ago, this shale gas was considered uneconomic. At a forward price of $5 per thousand cubic feet, this gas now has a value of $4 trillion. This is a huge economic stimulus. Unlike government spending and/or tax cuts to stimulate economic growth, this opportunity will not increase deficits and national debt. Rather, it will result in over $1 trillion in new taxes paid to federal and state governments.
This single opportunity is not sufficient to jump-start the U.S. economy. But there are many other similar energy opportunities with a total value over $40 trillion. Together, they could create millions of good jobs, stimulate sustainable economic growth, improve energy security, and enhance environmental protection. Read the full article.
March 6, 2012
Challenges create opportunities. The world has experienced numerous energy challenges in the past 40 years. Many new technologies have been developed in response to these challenges. Now, at last, these technologies have matured to the point that they offer the U.S. the opportunity to transform energy from a source of recurring crises into an engine for sustainable economic growth and a foundation for exemplary global leadership. Read the full article.
Can NASA Stop Global Warming?
Feb 25, 2013
In 1961, President John F. Kennedy asserted that the United States “should commit itself to achieving the goal…of landing a man on the moon and returning him safely to earth,” by the end of the decade. The National Aeronautics and Space Administration accepted the challenge. Read the Full Article.
A Carbon Tax Can Reinvigorate the U.S. Economy
July 7, 2012
The United States needs fundamental tax, spending, and entitlement reforms to grow and sustain its economy and restore fiscal discipline. As the next President and Congress deliberate such reforms, a carbon tax should be at the top of their list because it will stimulate investment, innovation, and economic growth and make the U.S. more competitive.
How would this work? A carbon tax should incorporate three principles. First, it should include both a tax and tax credit. Entities that extract carbon from the ground, import carbon, or emit other greenhouse gases are taxed. Entities that remove carbon from the atmosphere or prevent it from ever entering the atmosphere receive a tax credit. Second, the level of the tax and tax credit should reflect the external costs of fossil fuels, such as the indirect costs of oil imports, air pollution, and global warming. Third, the tax and credit should begin at a reasonable starting level and increase slowly to their full level over several years, so energy consumers have time to adjust to the true cost of energy. Read the full article.
Energy Past, Present, and Future
March 6, 2012
Energy is the lifeblood of modern civilization. Energy consumption in U.S. and worldwide increased over ten-fold during the 20th century and per capita consumption more than tripled. When the National Academy of Engineering identified the “Greatest Engineering Achievements of the 20th Century” they included two energy technologies (electrification and petroleum) in their “top 20” achievements (Table 1). More importantly, these two technologies enabled all of the other 18 top engineering achievements. Modern civilization as we know it would not exist without electricity and petroleum fuels. Read full article.