Posted by Jason under Faust, U.S.
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We’re going to try to move this country towards energy independence in a number of ways. It has to move in a number of ways because there is no one answer. But of course, with all major changes, come uncertain costs. Here is today’s news.
36 billion gallons a year by 2022. That’s five times current production levels. According to this article in today’s Times:
No fuel of the type in question has been produced commercially in the United States. Even in the view of people who back the idea, the technology to do it is immature, the economics are uncertain, and the potential for unintended consequences is high.
Hundreds of new factories will be required, perhaps a billion tons of plant material will need to be hauled around every year, and estimates of the required investment start at tens of billions of dollars.
“It’s not clear that it is doable, but it wasn’t clear you could send a man to the moon, either,” said Mark Flannery, head of energy equity research at Credit Suisse. “You don’t know until you try.”