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Chu Talks About Oil

Energy Sec. Steven Chu wasn’t born yesterday. Alternative energy is his pet, but he has a clear view of the future of oil. Global demand for it will increase, even with more efficiency and alternative fuels. Prices will go higher.

Chu, during an hourlong meeting with reporters Thursday, discussed the futility of predicting oil prices in the short run, the need for a national electricity transmission system, and the urgency of getting the billions of economic stimulus dollars to the nation

But, on the other hand, he is all for oil price stability. OPEC, are you listening?

“After we get out of the deep recession the world is in now I see higher demand” for oil, said Chu, although he hoped the push to alternative fuels and greater efficiency “can help the U.S. greatly decrease that demand.”

Chu will get the $$$ under his control to good places. Let’s get that electrical grid working.

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