Keith Hennessey with a reminder:
"If (when?) battery technology leaps forward to make hybrid or electric vehicles a significant share of the market, then electricity and its sources will begin to act as significant substitutes for gasoline and diesel fuel. At that point R&D to reduce the cost of solar power, wind power, nuclear power, hydro power, and natural gas power could start to affect the price at the pump enough for you to notice. But until then fuel and electric power are for all practical purposes separate issues, and when an elected official’s response to high fuel prices is more research on or subsidies for some form of electric power production, he is either confused or misleading you. More from the EIA here.
But until then fuel and electric power are for all practical purposes separate issues, and when an elected official’s response to high fuel prices is more research on or subsidies for some form of electric power production, he is either confused or misleading you."
More from the EIA here.
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