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Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.

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Bush, Iraq and the hydrogen economy
Hydrocarbon AlternativesDamianB writes: The closest thing to an independence plan produced by the Bush administration or the energy industry is the hydrogen economy. The idea is to convert our vehicles, ships, and aircraft to burn the pollution free fuel in various forms. It would solve a problem, but it could take 20 years or so.

However, hydrogen isn't a source of fuel - it's a storage medium. It is produced by expending some other primary source of energy.

The source the government, energy industry, and the automotive industry has in mind is nuclear power. We are talking about literally thousands of new nuclear facilities dedicated to the production of hydrogen through fission powered electrolysis (the splitting of water into hydrogen and oxygen gas).

The hydrogen economy is really a nuclear economy. Investors and the rest of corporate America may not realise how close the country is to making a gigantic bet on a nuclear future. The scientists and engineers at the Idaho National Engineering and Environmental Laboratory have been developing the advanced nuclear technologies that would power the hydrogen world.

http://news.ft.com/cms/s/a58378b0-732d-11d9-86a0-00000e2511c8.html
Posted on Monday, January 31 @ 09:47:48 PST by aaron
 
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Re: Bush, Iraq and the hydrogen economy (Score: 1)
by FatherOfTwo on Monday, January 31 @ 12:12:37 PST
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From
http://www.oprit.rug.nl/deenen/Nuclear_sustainability_rev3.PDF

"The largest costs of a power plant itself, up to the end of its useful lifetime, are:
1) The energy costs of building and operating the plant itself
2) The energy costs of mining and refining the ore
3) The energy costs of enrichment of the uranium and fabrication of the fuel elements"

Now, after a plant is decommissioned, there are many, many other costs:

4) The energy costs of conditioning the extremely radioactive burned up fuel elements so that they can be sequestered in a presumably stable geological stratum
5) The energy costs of sequestration of the fuel elements and the depleted uranium left behind by the enrichment
6) The energy costs of dismantling the plant itself, and of sequestering the radioactive detritus.

I'll leave out the "costs" associated with mishaps.



Re: Bush, Iraq and the hydrogen economy (Score: 1)
by dub_scratch on Monday, January 31 @ 23:46:15 PST
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In the article, I found this paragraph amusing:

"I asked Dr Steve Herring of the INEEL how many of these new, relatively efficient reactors would be needed to displace the estimated US fuel import requirements 20 years from now. Based on the Energy Information Administration's estimate of 2025 fuel imports (measured in quads, or quadrillion British thermal units), the output of 300MW per VHTR reactor, and the comparative efficiency of hydrogen fuel compared to gasoline, you come up with a requirement of about 4,000 reactors."

Lets see, 20 years & 4000 nuclear reactors. That would be one reactor opening every other day for that 20 year period (starting tomorrow of course).



Re: Bush, Iraq and the hydrogen economy (Score: 1)
by percentile90 on Monday, June 12 @ 13:38:40 PDT
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