Steve's Blog Spot

Or is it 21st century snake oil? Interesting article from CNN Money about a BlackLight, a NJ company which claims to be able to convert hydrogen from water into energy, with no pollution. The timing is interesting. At a time when oil prices are the highest in history, desperation can lead us to believe in any alternative that sounds plausible. Still, the company claims to have been able to already secure significant capital financing. I wish them luck. If the process is valid, the implications are profound. Just sounds too good, though.

... a year ago . What a difference a year can make!

they are politicians . And frankly, I do not understand how they think (a word used loosely in this context). Victor Davis Hanson has the right idea of a sure-win platform: I don't quite understand why one party or the other doesn't campaign on delivering more energy to the American people to lower costs, keep the world price down, and money out of the hands of terrorists, and to address U.S. debt and the falling dollar. There seems no contradiction between wanting nuclear power, clean coal, tar and shale, more drilling off our coasts and Alaska — and more conservation, more money for hydrogen, biofuels, more solar, wind, etc. Providing both short- and long-term energy policies would be most beneficial to our country's well-being, and we would stop sending billions and billions of our dollars to countries who do not wish us all the best. Come on, politicians, stand up for America for a change and use some common sense! That's the "change" we really need. VDH ...

Everybody wants to blame the oil companies for $4 per gallon gas, but here is an interesting report from today's London Telegraph. A few salient points from the article: Between 2004 and 2007, US oil consumption grew only 7%. Compare this to China's increase of 34%, Middle East - 25%, and Asia at 17%. Those countries subsidize fuel prices, so their costs are artificially low. However, those subsidies will have to be removed or reduced in order to curtail inflation, thereby helping to reduce demand. Non-OPEC oil production will increase by 600K barrels per day (bpd) over the next few months, despite decreases by Norway, Britain, and Mexico. The Saudis have agreed to increase their production by 300K bpd. This was a result of President Bush's latest visit there. There's nothing to stop a short-term run up, but in the longer haul, with a decrease in demand and an increase in supply, shouldn't we - at least theoretically - see an improvement in the price of gas? Maybe ...