Word: gas
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...Affordable, carbon-free energy available around the clock is the Holy Grail in a world that aspires to cut greenhouse-gas output even as it uses ever more electricity. Solar power can't provide it; nor can wind. And while nuclear power could do so, many Australians oppose...
...High power costs and their benefits With partner origin energy, a big Australian oil and gas company, Geodynamics now plans to build enough wells to run a 50-MW commercial power plant by 2011. That feat will need much deeper wells and better water flows. If it works, Geodynamics will build more wells to produce 500 MW - about the output of a modern gas-turbine power plant...
...There are some obvious challenges. Power from coal-fired plants is cheaper. And the closest connection point to the national electricity grid is 500 km away. But Grove-White says geothermal power will become economic once coal and gas plants have to pay for their carbon emissions, which he expects to happen in an Australian carbon-trading scheme due to start in 2010. While the transmission lines will be expensive, their cost - $500 million or more - is included in the business model...
Back in the U.S., both parties' presidential candidates are humiliating themselves and us with economic nonsense about oil. John McCain speaks passionately on the need for energy independence, but he is sticking to his counterproductive notion of a gas-tax holiday that would cut less than 20¢ from the price of a gallon. This man really thinks we're chumps...
...Suppose, for example, that President George W. Bush had used the political gift certificate he was granted on Sept. 11, 2001, when he could have asked Americans to do almost anything in the name of fighting terrorism, to impose a $1.50 "War on Terror" tax on a gallon of gas (instead of squandering his gift certificate on invading Iraq). The price at the time was about $1.50 per gal., so this would have doubled it to $3. People would have screamed with pain, then started adjusting. Demand would have gone down, and today gas would probably be selling for less...