An Inconvenient Expense (Part 2)
By Bruce A. Love
In my previous column, I began to explore the complex and contentious topic of escalating fuel prices. We used the economic concepts of supply and demand to explain why fuel prices have soared. In that column, I also expressed confidence that Americans would overcome the current economic crisis created by the high cost of fuel, as they have overcome other challenges throughout history – by using ingenuity to develop better solutions.
In the short term, we can take some obvious steps to reduce fuel and energy expenses. Anyone who survived the 1970’s is familiar with fuel-saving strategies such as car pools, public transportation, and adjusting home thermostats to save energy and expenses. With the cost of home heating fuel being double what it was last winter, I am also seriously considering a variety of furnace options, fireplace inserts, and necessary chimney repairs, to avoid paying thousands of dollars on home heating fuel this winter. Unlike oil-rich regions in the Middle East, firewood and coal are not in short supply in these parts of Pennsylvania.
Another fuel-saving option is telecommuting. This is the practice of working from home instead of commuting to work. While telecommuting is not practical for some types of work, it often works well for employees who normally function in an office environment. Check with your employer to see if they will allow you to telecommute.
One option that is receiving attention lately is a grass-roots movement to lift the ban on off-shore drilling and begin extracting oil from the vast deposits of oil under the Arctic Ocean and in oil-rich areas of Alaska. Historically, the concern has been that drilling may disturb the ecology of these regions, but if strict laws are put in place to guaranty minimal impact to plants, animals, and scenery, the resulting increase in domestic oil supply would put downward pressure on the prices we pay. The decision to drill now may not affect prices for several years, but why put it off any longer? If you agree with the “Drill here, Drill now, Pay less” campaign that will lower energy costs in the future, join nearly 2 million other Americans who have already signed the online urging Congress to lift the ban on drilling our own oil reserves (www.americansolutions.com).
As an alternative to fossil fuels, some people are becoming very creative. If you search for “Biofuel man” at YouTube.com you will find a series of videos that explain how to use waste restaurant grease to power a diesel vehicle. Really!
Oil and coal can’t last forever. I am all for clean, “green,” renewable energy. You can’t get much cleaner and greener than one promising technology that extracts lipids from algae to produce a full range of fuel products, including diesel, gasoline, and home heating fuel. According to scientists who work in this emerging field, 10% of the desert state of New Mexico could produce enough algae to satisfy all the energy needs of the entire United States (see http://www.youtube.com/watch?v=_ToojK_MJd0).
In the short run, the American economy will continue to rely largely on fossil fuels, but the future may be solar, wind, fast food grease, or algae! These are exciting times!
