The World on Oil The World On Hydrogen TheThe End ofofCheap Oil … End Cheap Oil Oil PRICES ON THE RISE $78 $55 $29 2003 $38 2004 2005 2006 Average cost of barrel of West Texas Intermediate Crude Top 10 Foreign Suppliers of U.S. Oil Energy Security? Mahmoud Ahmadinejad, President of Iran: “Rich nations should be paying $100 / barrel…” Hugo Chavez, President of Venezuela: “…use geopolitical power from oil.” Global Energy Demand to Grow 60% by 2030* Cars line up to buy gas in China's Guangdong province, August 17, 2005. (China Daily) *Exxon Mobil Energy outlook Demand will require 40% increase in OPEC Oil What about ANWR? U.S. Consumption of Oil (million barrels /day) 27 million barrels / day ANWR: 1 million barrels / day 10 years from now… 1950 1960 1970 1980 1990 2006 2010 2020 2006 2020 The Road Ahead Near term: – Conservation measures Mid term: – Hybrid, flexible fuel, ethanol & methanol, bio-diesel, better batteries Long term: – Transitioning to the hydrogen economy Near Term - Conservation • The average US family could save 25 % -- up to $400 a year on its power bill. • Replace old bulbs with Compact Florescent Lighting (CFL) – saving up to $74 over the life of the bulb and last 8-10 times as long • Un-plug chargers or plug them into a power strip you can switch off. • Set your thermostat comfortably high in the summer and comfortably low in the winter • Adjust your water-heater to 120°F • Properly inflate tires, keep trunk empty, observe speed limit. each 5 mph you drive over 60 mph is like paying an additional $0.20 per gallon for gas Medium-Term New Sources Fuel Efficiency Biofuels Utilities – Clean tech Nuclear Power Renewables Why hydrogen? •Safe •Abundant •Clean What About Fire? Hydrogen tank fire Gasoline tank fire Our part in the Hydrogen Economy • Commitment • Collaboration • Discovery Commitment "to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the Earth." May 25, 1961 Neil Armstrong: “One small step for man. One giant leap for mankind.” July 20, 1969 Collaboration CLEMSON-ICAR Center for Fuel Cell Research Discovery Hydrogen Storage – Needs to be about 300 miles Fuel Cell Cost – Now about $110 a kW; • Needs to be about $30 per kW H2 Cost – Now $4 gallon of gas equivalent (gge) Needs to be about $3 gge. H-Prize H-Prize • The most non-governmental way government can achieve clear results. • Provides results-based financial incentives to harness the creative, cando spirit of Americans. H-Prizes 1) Technical Breakthroughs 2) Prototypes 3) Transformational Technologies We can. Because we have. Transcontinental Railroad last spike on May 10, 1869, at Promontory Summit, Utah We can. Because we have. August 15, 1914 the Panama Canal opened after nine years of grueling effort We can. Because we have. July 16, 1945, Manhattan project results in first successful atom bomb test at Trinity Site How Long? Transcontinental Railroad 1863-1869 Panama Canal 1905-1914 Manhattan Project 1942-1945 Moon Landing 1961-1969 6 years 9 years 3+ years 8 years Hydrogen economy 2003 ? Want to Land an Eagle? We can. Because we must.