7/10/2013 7:00 PM ET|
Energy independence in America: Finally within reach?
An MSN Money special report: With the US in the midst of an oil and gas boom, the tantalizing prospect of energy independence seems closer than ever. But there are some big trade-offs on the road to self-sufficiency.
We've come a long way since the oil shock of 1973, when Arab countries raised the price of oil while cutting production -- throwing the U.S. into crisis. Now, the American energy story is completely different. The U.S. is the fastest-growing oil and natural gas producer in the world, and it's leading many to wonder if we're approaching the long-sought goal of energy independence. Could we finally take care of ourselves?
Using new technology to tap huge underground deposits holds the promise of American energy independence -- along with worries of environmental harm and health threats. The stakes couldn't be higher.
Declaring your independence from the energy grid is more feasible than ever -- especially if you have $30,000 to spare. See what it takes to get your electric meter spinning backward.
A mere three years after the BP disaster in the Gulf of Mexico, the region's oil industry is booming -- and it may be just the start of a new long-term growth cycle.
In the span of a generation, the idea of capturing power from sources other than fossil fuel or nuclear energy has gone from utopian nonsense to being widely incorporated into the national grid. But now the country is producing fossil fuels at rates not seen in years, putting the alternative energy sector in a familiar bind -- because whenever fossil fuel prices fall, interest in alternatives tends to dry up.
From Fred Flintstone's foot-powered car to the Starship Enterprise's dilithium crystals, Americans have a rich history of imagining alternative fuel sources for petroleum-free worlds. But what may have seemed like science fiction just two decades ago -- think dance floors that produce energy and cars that run on chocolate -- is quickly becoming reality.
A decade after Americans finally seemed ready to embrace nuclear power again, the shifting economics of energy and Japan's Fukushima disaster may have squashed the industry's attempted comeback.
The number of vehicles in the US powered by something other than plain-old gasoline is still small, but growing steadily.
After a big market run-up and a relatively mild pullback, many energy stocks were left behind in the rally. But they are lagging for the wrong reasons, say several money managers who can usually be counted on for outperformance.
VIDEO ON MSN MONEY
What's the point of being energy independent when the traders determine the price of oil? Yes we're not at the risk of some **** country, but the minute there's a small explosion in BFE, the price of oil hits $5.00+ gallon!
Brazilian's pay $2.15 gallon because they made the decision 20 years ago to be independent of Arab oil (they use ethanol from switch grass and their own oil reserves) and are not at the mercy of energy traders on Wall Street!
The US has been a net producer of oil since '12 (produce more then we consume) and the rest of the oil is exported to Asia where they pay top dollar.
The only winners in energy today are the oil companies who run rough shod over American consumers!
Step #1 Put Solar panels on your roof equal all your home usage plus the usage of that electric car you want to buy.
Step #2 Buy that Electric car with extended range batteries.
Step #3 Thumb your nose at OPEC every time you pass a Gasoline Station and take your savings to the BANK.
7/24/13 Figure this One Out ? The State of Alaska is OWNED by BIG OIL, EXXON & BRITISH PETROLEUM. Republican Governor, State Senate & State House & Sister Sarah Palin
& WE STILL PAY SOME OF THE HIGHEST GAS PRICES IN THE NATION ! Last time I filled up it was $4.13 per gallon. $82.00 to fill my car.
Supply & Demand. IF there is plenty of Gas in Supply then shouldn't the Price DECEASE ?
Or should I Trust Big Oil & wait for the prices to come down ? SPW in Alaska
The only way for us to get out of the position were in right now is to NATIONALIZE the oil companies!
That way there is no more big oil money buying help in DC during / before the elections.
You do not think the Obama turned down any money / favors that BIG OIL OFFER to him (YOUR A DUMB AS IF YOU DO ! )?
Here an EXAMPLE remember hearing on TV " WE DO NOT MAKE THE PRODUCT< WE MAKE IT BETTER"?
That company cover its **** during the last election so well they gave a report $7.000,000.00
to each party!
They did not care who won ( A FAVOR ( 7 MILLION ) FOR A FAVOR AS THE SAYING GOES )!
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