Only barely recovering from the…
On Tuesday, oil prices hit…
Oil and Gas veteran T. Boone Pickens believes that the US can achieve energy independence by following his ‘Pickens Plan’. His strategy calls for the widespread use of natural gas as a transport fuel; the upgrading of the nation’s electrical grid; a greater use of renewable sources; and creating policies that will encourage energy efficiency.
Maybe Mr. Boone Pickens is onto something as at the recent New York Times Energy of Tomorrow Conference all of these ideas were actually discussed.
At the conference Steve Nadel, the executive director of the American Council for and Energy-Efficient Economy, said that he believes energy efficiency will become very important in the pursuit of energy independence. “It's cheaper to save a kilowatt hour of electricity than it is to build a new power plant.”
Although according to Jim Rogers, the Chairman, President, and CEO of Duke Energy, the pursuit of energy independence is a misguided notion which has no place in an interdependent world. He says that all energy sources are important for creating a balanced and secure energy mix. A view that is popularised in other nations such as the UK and Australia.
Rogers said that all efforts in energy should be directed at making it affordable and clean, and that the only way to realise this is through technology. He said that the boom in US natural gas and the resulting low prices has been a result of technological advancements in drilling. He is also adamant that technology will increase efficiency and therefore reduce the US energy demand. However Carol Browner, former energy advisor to the Obama administration, disagreed that reduction in the demand of power can only be achieved through technological innovation.
By. Joao Peixe Oilprice.com
Joao is a writer for Oilprice.com