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  • Energy 101: An Interactive Quiz

    The American Petroleum Institute just released its Energy IQ Survey that you can access here. The survey, which also comes in a printable PDF form, asks a series of questions that Americans will find both informative and surprising.

    It’s easy to see that rising gas prices are hurting American households. Karen Campbell, the Heritage Foundation’s Policy Analyst in macroeconomics, found that if prices continue to rise at an accelerated pace over the course of a year,

    • Total employment would decrease by 586,000 jobs,
    • Disposable personal income would decrease by $532 billion,
    • Personal consumption expenditure would decrease by $400 billion, and
    • Personal savings would be spent to help pay the cost.

    On Monday, President Bush lifted the executive ban on offshore continental shelf drilling (OCS); it is now on Congress to lift its restrictions on offshore drilling to expand supply domestically. Heritage’s Ben Lieberman writes that 85% of the OCS is currently off limits, and these policies were readily accepted when energy and gas prices were cheap. OCS restrictions should have been lifted years ago in order to have the supply of oil and natural gas available today; however, lifting the executive order is a step in the right direction.

    Posted in Energy [slideshow_deploy]

    2 Responses to Energy 101: An Interactive Quiz

    1. John Galczynski, Geo says:

      Looking at US DOE Industry criteria for the classification of energy, one finds insignificant fractions of a percent of wind and solar and a factor in the energy marketplace with no plan or policy to encourage diversification otherwise. Being a regulated industry, this is important in demonstrating and limiting alternative significant sources of revenue in the current shared Democrat and Republican theaters. No expansion of nuclear power from its 12.5 percent of the electric generation market appears likely and the balance of about 87 percent coal to generate electricity isn't likely to change.

      At present, electricity production deals with factories, offices, homes and essentially static components while oil and gasoline dominate the transportation sectors.

      With four dollar a US gallon gas in the present, new electric vehicles offered a high storage density and low weight (opposed to the 1,700 lbs. NiCd or Lead Acid batteries of prior electric vehicles with distances of under a hundred miles per charge aren't much use to many consumers.

      Basically, it costs around 20 cents per mile to use gasoline in a typical car and about 2 cents per mile to use electric in an electric vehicle. Looking further, a gas vehicle driving typical 12,000 miles per year can easily cost $900 or more monthly with finance and insurance added for cost of usage. Given some $100 to $150 per week cost in gasoline verses maybe $10 per week for electric, the transportation industry is about to undergo a major transformation despite the auto industry downscaled and exported abroad.

    2. Kiran, cyberspace says:

      I looked at the quiz. A careful selection of half-complete information. Thank you Heritage Foundation.

      No mention of how much oil can be drilled on US offshore, how quickly can it be put to market and how long it lasts.

      No mention of how much EROEI the Canadian tar sands have, and its polluting effects.

      No mention of how close we are to next generation biofuels and how much land is needed to cater to US oil needs by growing switchgrass.

      No mention of how much needs to be invested on trains and electrifying the transport sector. No mention of how that compares to investing in oil.

      Oil is a weak thing as compared to coal, you don't need nuclear to beat oil. Oil could be beaten by pretty much anything.. natural gas, wind, biofuels.

      Fighting oil is not an environmental issue, it is purely an issue of economic security.

      Nuclear is needed when we talk of replacing coal, this is the true environmental issue.

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