Almost everyone’s heard the well-worn anecdote about the lost city slicker who asks a country fellow for directions and is finally told (after the rural denizen deliberates over several proposed routes), “Come to think of it, son, you can’t get there from here.” Well, when It comes to finding a solution to our nation’s long-term energy—and hence, economic—woes, the leaders of America have, of late, seemed just as directionless as the befuddled traveler in that old joke.
(All right, perhaps we’re being a bit harsh. The folks in charge have proposed at least one solution: namely, increasing the rate at which we mine out our limited, nonrenewable resources. Such actions, though, will only lead us to disaster all the more rapidly. It’s as if the driver in the tale above, despairing that he’d ever get any worthwhile advice, decided to accelerate down a dead-end road!)
Fortunately, Brick House Publishing recently released a thorough, well-documented proposal for our country’s future that shows, in both energy-related and economic terms, precisely how we can “get there from here.” The 454-page report, called A New Prosperity: Building a Sustainable Energy Future, was originated and funded—but never published—by the federal government itself! MOTHER EARTH NEWS’ editors felt that many more people should know about this important and farsighted study. So, through the kind cooperation of Brick House Publishing, we are reprinting below part of the introduction to this guide for America’s future.
The past half century has been a period of unprecedented economic growth for the United States. Much of this growth was fueled with cheap energy, primarily oil and gas, much of it imported. Events of the past few years, however, have called the stability of this economic foundation into doubt.
The SERI [Solar Energy Research Institute] study has redefined a stable foundation for growth in the American economy. The pillars of this new prosperity are more efficient energy consumption and economic use of renewable energy resources.
Specifically, SERI’s findings show that through efficiency, the U.S. can [by the year 2000] achieve a full-employment economy and increase worker productivity, while reducing national energy consumption by nearly 25%.
Some 20 to 30% of this reduced demand could be supplied by renewable resources. A strategy built around energy efficiency and the widespread use of renewable resources could result in the virtual elimination of oil imports. It must be emphasized that [our projections] are goals, not forecasts. But the benefits to the nation of attaining these goals are enormous. These figures must be given the serious examination they deserve.
Daily Archives: September 25, 2012
An Update on Wind Energy | Bedford Corners NY Real Estate
Like many revolutions that are more than a few years old, wind energy has remained in the mountains gaining strength. It is now ready to move inland, however, to capture the hearts and minds of the rest of the country. After a decade of experimenting with wind farms in the hills of California, plans are now underway to utilize wind resources in in Washington state and Montana. Wind farms are also in the planning stages in Minnesota, Wisconsin, Wyoming, North Dakota, New York, Hawaii, Iowa, and Texas. There is even one planned to be online by 1994 on a breakwater around the port of Los Angeles.
Industry Breakthroughs
During the late 1970s and early 1980s, the wind industry suffered the pangs of a premature birth. The need for new sources of energy prompted by the oil crunch of the late 1970s resulted in the application of immature technology, and from 1981 to 1985, attractive federal and state tax credits promoted a “wind rush” to build turbine at an average pace of five to six turbines a day.
The fledgling industry was plagued at the outset by the faulty notion that aviation technology was easily transferred to the design of wind turbines, and the misconception that bigger turbines would generate more electricity. Many of these early turbines stalled in high winds, while blades faltered in extreme weather.
Further damaging were opportunistic investors more interested in capitalizing on federal tax credits than on efficiently generating electricity. From 1981 to 1985, entrepreneurs were offered a 15 percent federal investment tax incentive to build wind farms. Unfortunately, this was valid even if wind farms never generated a kilowatt of electricity. Consequently, rich investors looked upon the wind industry as a lucrative tax shelter. According to the California Energy Commission, where 150 turbines were installed in that state in 1981, that number rose to 4,590 in 1985. When the tax credits were allowed to expire in 1985, the number of installations dropped by half the following year, and by 1987, the number of new installations had dropped to 1,392.
A federal law signed by George Bush last October, The 1992 Comprehensive National Energy Policy Act, allows a new tax credit for wind energy. This time, however, the tax credit is tied to electricity generated, not systems installed. The law allows a production tax credit of 1½ cents per kilowatt-hour of wind-generated electricity generated between January 1,1994 and June 30, 1999. The same law provides for greater access to use existing transmission lines in order to deliver electricity generated at wind farms to distant points of use.
Recent technical breakthrough have made wind-electric systems more efficient, however, and now, at about five cents per kilowatt-hour, they can compete economically with central coal-fired power plants for generating electricity in several parts of the United States. By 1994, with the economics expected to drop to four cents per kilowatt-hour, wind energy should be able to compete economically with central coal-fired power plants anywhere in the country.
Obama’s Odds Of Winning At New Highs | Chappaqua NY Real Estate
We’re tracking three sources of “odds” on the US Presidential election:
- Nate Silver’s aggregate poll forecast
- Intrade’s prediction market
- Betfair’s prediction market
President Obama’s odds of winning the election have surged to new highs on the latter two over the past week and moved back toward recent highs on the third.
First, Nate Silver of the New York Times currently gives Obama a 78% chance of reelection, close to the 80% peak just after the convention:
On Intrade, meanwhile, Obama’s odds have surged since video surfaced last week of Mitt Romney dissing half the country in remarks at a private fundraiser and now stand at 73%:
And, on Betfair, Obama’s odds have continued to trend higher and are now around 80%:
Global Growth Has Collapsed | Armonk Real Estate
The below chart comes from Morgan Stanley’s latest Strategy Forum deck, and though it’s simple, we suspect a lot of people haven’t seen it yet, or really haven’t made the connection between the chart and other big economic stories of the day.
This is the chart that’s causing warnings from FedEx.
This is the chart that’s contributed to the collapse of the Shanghai Composite.
This is the why the Baltic Dry Index is down 60% this year.
It’s why US manufacturing indices are giving off the weakest signs of the economy.
If the US goes into a recession in the next year, this will almost certainly be why.



