In the past few weeks Oil has finally come off its highs, hopefully they will not return. In my blog over the past year I’ve highlighted the advance of technology in alternative energy sources and the vast resources of oil that the earth still has. This story is just one more nail in the long term coffin of high oil prices, the ability to use the sun to power our energy needs. This technology is not ready for prime time and if it actually works won’t be widespread for decades, but it demonstrates once again that free people will find a way to solve their problems. We are on the verge of technological and biological breakthroughs this world has never seen and while it may not benefit us today, it will benefit our children and grandchildren. The world my great-grandchildren live will make today look like the stone ages.
A small excerpt from the referenced article:
“Requiring nothing but abundant, non-toxic natural materials, this discovery could unlock the most potent, carbon-free energy source of all: the sun. “This is the nirvana of what we’ve been talking about for years,” said MIT’s Daniel Nocera, the Henry Dreyfus Professor of Energy at MIT and senior author of a paper describing the work in the July 31 issue of Science. “Solar power has always been a limited, far-off solution. Now we can seriously think about solar power as unlimited and soon.”
Scott Dauenhauer, CFP, MSFP, AIF