April 24, 2006
High Fuel Prices
| Host: | Jim Schneider |
| Guest: | Tom Randall |
| Listen: | RealAudio | Windows Media | MP3 | Order Tape or CD |
Tom Randall is President of the consulting firm, Winningreen LLC.
In the short-term, there is no end in sight to high fuel prices. This is because worldwide demand is high, especially with the growing economy in China.
Oil is available in the Arctic National Wildlife Refuge but the Senate and Congress can't agree on the language of a bill that will allow drilling to commence. This source would equal about 30 years of imports from Saudi Arabia. Having a national source, however, is one thing, refining it is another, because a new refinery hasn't been opened in the U.S since 1973.
Tom presents a number of solutions. For example, he cites new technologies that could obtain 2.6 trillion barrels of oil from oil shale residing in four western states. Also noted is America's enormous coal reserves that can be cleanly converted to fuel.
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