And we are supposed be scared?

It is funny when oil companies act like they are under siege from the growing ethanol business. Even though bio-fuels are quite a few years from making an impact, about a week ago the OPEC chief warned the west about researching on Bio-fuels. Now the US oil refineries are almost saying the same thing except in a subtler fashion. Bio-fuels or no bio-fuels, I have no illusions about oil prices coming down in the near future. Therefore, it is my belief that such warnings are going to be counterproductive. Just like the oil producing nations and oil companies are looking for their demand security, the rest of the world should look after its energy security.

The Art of Long Term Thinking

One of the most beautiful paragraphs that I have seen...

The global energy industry provides a great example of the need for long-term thinking. It took coal nearly 100 years to bypass traditional energy sources (such as the burning of wood) as the world's primary energy source. It then took oil nearly 100 years to surpass coal usage. Natural gas has been more than 100 years in development and now represents about 20% of global primary energy use. Similarly, it will take new renewables, such as wind, solar and biofuels, 10, 20, or 30 years to catch up with coal, oil and natural gas. That's the reality of energy markets and one of the reasons why long-term thinking is so critical in the realm of clean tech.

Check the entire article. Clean Tech and the Art of Long Term Thinking.