The World on Oil

The World On Hydrogen

The End of Cheap OilThe End of Cheap Oil …

Oil PRICES ON THE RISE

Average cost of barrel of West Texas Intermediate Crude

2003 20052004 2006

$29

$55

$38

$78

Top 10 Foreign Suppliers of U.S. Oil

Hugo Chavez, President of Venezuela: “…use geopolitical power from oil.”

Mahmoud Ahmadinejad, President of Iran: “Rich nations should be paying $100 / barrel…”

Energy Security?

Cars line up to buy gas in China's Guangdong province, August 17, 2005. (China Daily)

*Exxon Mobil Energy outlook

Global Energy

Demand to Grow 60% by 2030*

Demand will require 40% increase in OPEC Oil

What about ANWR?

ANWR:1 million barrels / day 10 years from now…

27 million barrels / day

2006 2020

U.S. Consumption of Oil (million barrels /day)

1950 1960 1970 1980 1990 2006 2010 2020

Near term:Near term:– Conservation measures

Mid term:Mid term:– Hybrid, flexible fuel, ethanol &

methanol, bio-diesel, better batteries

Long term:Long term:– Transitioning to the hydrogen economy

The Road Ahead

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

BiofuelsBiofuels

Medium-Term New Sources

Fuel EfficiencyFuel Efficiency

Utilities – Clean techUtilities – Clean techNuclear PowerNuclear Power

Renewables

Why hydrogen?

•Safe•Abundant•Clean

Gasoline tank fireHydrogen tank fire

What About Fire?

• Commitment• Collaboration• Discovery

Our part in theHydrogen Economy

Commitment

May 25, 1961

"to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the Earth."

Neil Armstrong: “One small step for man. One giant leap for mankind.” July 20, 1969

Collaboration

CLEMSON-ICAR

Center for Fuel Cell Research

DiscoveryHydrogen StorageHydrogen Storage– Needs to be about 300 milesNeeds to be about 300 miles

Fuel CellFuel Cell CostCost – – Now about $110 a kW; Now about $110 a kW;

• Needs to be about $30 per kWNeeds to be about $30 per kW

H2 Cost H2 Cost – – Now $4 gallon of gas equivalent Now $4 gallon of gas equivalent (gge)(gge) Needs to be about $3 gge. Needs to be about $3 gge.

H-Prize

• The most non-governmental way government can achieve clear results.

• Provides results-based financial incentives to harness the creative, can-do spirit of Americans.

H-PrizeH-Prize

H-PrizesH-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 Railroad1863-1869 6 years

Panama Canal1905-1914 9 years

Manhattan Project1942-1945 3+ years

Moon Landing1961-1969 8 years

Hydrogen economy2003 - ?

Want to Land an Eagle?

We can. Because we must.