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In February, the Obama administration announced its so-called Clean Energy Investment Initiative, a program that was seeking to generate $2 billion in commitments from the private sector to help spur clean energy innovation.
Just four months later, it seems, investors have willingly answered the call twice over amid rebounding interest in renewable energy.
The Obama administration said today that a collection of philanthropic groups, universities, and for-profit institutions have committed $4 billion to invest in clean energy. These are investments that might not fit in the average investor's portfolio. Instead, the money will fund things like solar, wind, and fuel cell technology, the type of potentially transformative innovation that all too often never sees the light of day because funding dries up.
Original Submission
(Score: 2) by Freeman on Wednesday June 17 2015, @07:02PM
I wonder what would happen in the middle east, if we suddenly stopped buying oil. Say we found a great, cost-effective, and easy way to obtain clean energy that could be fully implemented in 5 years. I'm assuming that the President and Congress are on our side and mandate a switch over. Yeah, I know..., the guy that invited the technology has probably already had an "accident".
Joshua 1:9 "Be strong and of a good courage; be not afraid, neither be thou dismayed: for the Lord thy God is with thee"
(Score: 0) by Anonymous Coward on Wednesday June 17 2015, @07:04PM
Well, one plastics are a problem ( i think) if we don't have oil...maybe I'm wrong. Also a power vacuum might be bad for America even if America didn't need the oil...Imagine Russia controlling the middle-east....wait. never mind let them have it.
(Score: 0) by Anonymous Coward on Wednesday June 17 2015, @07:22PM
During the 1970s, oil was used for power generation, house heating, and cars. After that, coal and natural gas are used for power generation. Natural gas was used for house heating. That leaves just cars. Cars have become somewhat more efficient. However, world wide, car driving has increased, to offset those losses. Until recently, the price of oil was as expensive as it was during the 1970s. This time, the economic troubles from high oil prices were milder (there are other problems now.)
Internal combustion engines are cheap. For the infrequent driver, they are good enough. Even if gasoline costs $7/gallon.
(Score: 2) by takyon on Wednesday June 17 2015, @07:23PM
American oil production is climbing and imports are falling
https://en.wikipedia.org/wiki/File:US_Crude_Oil_Production_and_Imports.svg [wikipedia.org]
http://marketrealist.com/2015/01/us-top-oil-producer-crude-imports-decline/ [marketrealist.com]
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 4, Interesting) by Phoenix666 on Wednesday June 17 2015, @08:38PM
According to the US Energy Information Administration [eia.gov]:
So basically we use oil to drive around in cars and trucks. If we stop doing that and use EVs instead that get electricity from all kinds of places, American demand for oil will collapse. There are pretty decent EVs on the market now, so the technology you were speculating about exists, except that it's in the cars more than in the form of generating electricity (yet).
Having been driving around the BMW i3 EV that my brother-in-law leased 3 weeks ago, I'd say that mass adoption of EVs can't be far off. They're really fun to drive. I get an endless kick out of leaving big, powerful 500 series Mercedes and other luxury gas-powered vehicles standing at the line when the light changes, and all without the obnoxious roar of an ICE. Just...insta-fast. Once you drive one and experience the crazy performance and handling, all the eco-friendly stuff fades into an afterthought. I read Tesla and Leaf owners really like the no-maintenance of EVs, too, so that would be a longer term bonus for owners as well.
Right now it feels like that moment we had a decade ago on the eve of the mass adoption of the digital camera, when Kodak and FujiFilm both got hit by a bus and disappeared. Big Oil is in real trouble. If you have an ICE I'd really start looking to trade it in for an EV at the earliest opportunity while it still has trade-in value.
Washington DC delenda est.
(Score: 0) by Anonymous Coward on Wednesday June 17 2015, @08:46PM
I get an endless kick out of leaving big, powerful 500 series Mercedes and other luxury gas-powered vehicles standing at the line when the light changes,
And these other drivers all agreed to street race you at every stoplight, correct?
Most of them are probably wondering why you're being such an obnoxious speeder all the time.
(Score: 0) by Anonymous Coward on Thursday June 18 2015, @01:01AM
Wah! Jack-rabbit starts are fun as hell. Sorry you are so boring.
(Score: 2) by Pslytely Psycho on Thursday June 18 2015, @07:52AM
"without the obnoxious roar of an ICE. "
I love the 'obnoxious ROAR' my 'vette makes.
Not to mention its 0-60 time is 5.1 seconds, whereas the BMW (Break My Wallet) i3 EV's time is 6.8 seconds.
Sure, the top end Teslas will do sub 5 seconds as will the top tier Beemers, (as will any top tier ICE sportscar) but on the average they are no faster than a fun ICE car.
Leaving a powerful car at the redlight means nothing, as most of us are better drivers than that and don't street race, (utter stupidity) of course, you want to come out on track day, that's a different story.
Jackrabbit starts are fun though, but never confuse that with actual racing.
http://www.zeroto60times.com/body-style/green/ [zeroto60times.com]
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