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Technology Stocks : Intel Corporation (INTC)
INTC 37.91-1.4%Nov 11 3:59 PM EST
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To: Jim McMannis who wrote (110103)9/17/2000 4:36:18 AM
From: nihil  Read Replies (2) of 186894
 
It is quite true that Reagan helped dismantle the alternative energy program. Hardly single-handed -- the oil and gas producers, American and OPEC played an important role for many years. And all went pretty well considering -- this is the first really solid spike in a while.
IMO, it was a serious mistake to discontinue R&D and demonstrations of alternative technology. The Gulf War should have made us thing about the possibility of another panic. The SUV boom was also a serious mistake. I believe we should have adopted punitive taxation for petroleum just as the Europeans and Japanese have. We can always do with some peppy demonstrations. The proceeds should have been invested in massive stockpiling and reserving and petrooleum substitute R&D. There is little to be said on premature deployment of costly energy technology, but it hardly made sense to drain America first.
As for nuclear power, we must someday redeploy nuclear power if only because of the CO2 problem. We have some excellent experience with very safe and relatively cheap reactors -- Duke Power is great. As for fusion, if we are capable of planning several hundred years ahead we will see that fusion is the only technology that presently has a reasonable future. Again it is research, rather than premature deployment that is important.
There remain immense quantities of coal which might be safely utilized. We are presently experimenting with disposal of massive amounts of liquid CO2 in ocean depts. There are also immense deposits of hydrated natural gas in the ocean and the tundra. None of these technologies can be utilized to meet sudden price spikes.
This is just another industry which the so-called free market screws up. The idea of electing a couple of oil creeps to the presidency is unlikely to help.
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