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.