Oil surges on Iranian threats to disrupt global supplies
Yesterday, Ayatollah Ali Khamenei warned the US that any 'mistake' in its dealings with the Islamic Republic would lead to consequences for global energy supplies.
Iran exports around 2.6 mln bpd of crude but has the potential to disrupt some 17 mln bpd through through the Straits of Hormuz. As global spare capacity currently stands at 1.5 mln bpd, such a move would be send prices spiralling.
Note that their plan may include disrupting other countries supplies. Foolish. My father always told me that you never mess around with another man's wallet.
Right now we cannot really do a whole lot about our demand for oil and the amount that we have to import. Whatever we build or explore today will take years before it is contributing substantially to our own energy independence. However, we can make moves today to try and stop this from happening again in another ten years.
I noticed yesterday that a tonne of neighbors were out mowing their grass. So was I and let me tell you, my mower guzzles the gasoline. Add to that the fact that I have a good deal of land and it can be rather expensive to maintain the lawn. Not to mention the emissions. How about the government mandates non-commercial lawn mowers should be hybrids? We are already heavily subsidizing the hybrid vehicles so why not the lawn mowers? The lawn mower subsidy can end three years after the vehicle subsidy. Current gas mowers to be turned in at recycling centers so that the oil can be reclaimed, gasoline deposits properly taken care of, and anything that can be melted down and used can have that done as well. My point is that we can start small and build up to the larger things in life.
Any replacement water heater will need to be a solar hot water heater. Mandatory for all new homes built from 2009 and on. Offer incentives on installation and purchase for current owners.
Incentives for gas station owners to add an E-85 pump and dish out E-10 on at least one Unleaded Regular pump. Also provide some form of incentive for anyone who owns and runs their vehicle on flex fuels (would be tough on this one, perhaps saved receipts to be included with tax returns?). Incentives to the distributors to expand flex fuels and bio-fuels.
Continue to improve technology for small footprint oil extraction, processing, and distribution.
All hybrids built after 2007 must be flex fuel-clean energy hybrids.
Education campaign, including mandatory classroom time for those in drivers ed, on the importance of maintaining one's vehicle and how it impacts fuel consumption.
Continue the incentives for those who add alternative energy to their homes such as a solar panel setup. Have all new homes built meet higher insulation standards.
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