Another $25, we get to $100 a barrel, which is supposed to be some magic number. At that point, it is entirely feasible to mine the ocean floor for Methane Hydrate, a much more abundant storehouse of energy than all the petroleum, coal and natural gas reserves known anywhere in the world.
Just breaking open the seams of coal that underlie many parts of the US, and using the Fischer-Tropsch process, we can produce more fuel stocks than we are likely to import from foreign sources for the next fifty years. In a word, self-sufficiency.
Designs for nuclear power generation plants, using technology developed since the last round of plants were built in this country some thirty years ago, should become one of our crash goals, starting a new plant every two weeks for the next five years, and getting them on line within three years of beginning construction.
I seem to recall another price breakpoint for oil. $40/bbl was supposed to convince the American oil companies to explore in America. Only one small problem; the DemonRATs and RepublicRATs banded up to say, "No domestic drilling at any price."
Much the same thing is waiting for anybody who wants to exploit methane hydrate. IIRC, the US is a signatory to a treaty that gives all deep-ocean mineral rights to the UN.
How long will it take to put those mechanisms in place?
"Just breaking open the seams of coal that underlie many parts of the US, and using the Fischer-Tropsch process, we can produce more fuel stocks than we are likely to import from foreign sources for the next fifty years. In a word, self-sufficiency."
Pennysylvania and Colorado are two states with 3 such plants operational, with more Federal funding coming to open 15-25 new plants by 2010. This will replace a full 30% of Arab oil. Cellulosic ethanol and biodiesel with replace another 30% by 2010.
"Designs for nuclear power generation plants, using technology developed since the last round of plants were built in this country some thirty years ago, should become one of our crash goals, starting a new plant every two weeks for the next five years, and getting them on line within three years of beginning construction."
Well that my friend is a lot easier said then done. Right now we need to look at this as the next Manhatten Project but it won't be, because you have too much lobbying from big oil in Washington. That means the private sector will likely be the ones to build plants, but don't expect this anytime soon.
There are many technologies which would be financed if energy prices were guaranteed to stay above a certain level. The problem is that financiers get burned in boom/bust cycles.
You should be our secretary of energy.