Comments from Scott C. Johnston, who toils in the alternative investment industry. The opinions here are his own and most definitely not those of his employer.
Scott, thanks for bringing some great facts and insights into the equation. Let's also not forget the cheapest way to cut our conventional energy consumption: demand reduction and efficiency improvements. See my March blog The Real Energy Solution http://theharddeal.blogspot.com/2010/03/real-energy-solution.html
The author lacks a basic understanding of the process of oil creation.Oil is solar energy. Very inefficiently created solar energy. Like .00001% efficiency over 500 million years. If you think 15% efficiency is a problem then we are more than screwed in the long term.Oh no, an area the size of South Carolina? That sounds like what? The area roads + parking lots + roofs already cover? Big challenge... right.
I made no representations about the process of oil creation, so I'm not sure how I can be accused of not understanding it.The anonymous commenter mixes apples and oranges - comparing how an energy source is created on one hand with how efficiently energy is stored and can be accessed on the other. Oil stores a great deal of energy relative to its mass. whatever else you may think of it, this fact makes it a highly convenient and economical. It's why we run cars on oil and not solar paneling (or vegetable oil, for that matter). This isn't being judgmental, it's just basic math. Solar is a highly diffuse energy source, so capturing it on any scale is problematic.Not sure what the point about South Carolina is.
Oh, and I did not say 15% efficiency was a problem. The problem is what amount of energy input you're getting 15% of, and in the case of solar, it's very little.
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