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It seems kind of odd that you may just find exactly what you’re searching for in the last place you think to look. It’s doubly odd when the last place you think to look has been right in front of you all along, yet that’s exactly the situation that has presented itself as more and more people flock to embrace geothermal power as the answer to our energy concerns.
Geothermal power is what results when heat emanating from the planet itself is harnessed for the sake of generating electricity. Even though oil technically comes from the earth as well, geothermal power is infinitely more cost-effective and, more to the point, clean. And, besides, oil is so passé.
Indeed, as society is faced with the Gulf of Mexico oil-spill clean-up along with the negative repercussions it will undoubtedly entail, the earth is perhaps the one overlooked energy source that may actually be the most efficient.
One of the drawbacks, if it can be called that, is that geothermal power is not the most profitable means of generating electricity out there. While most reports seem to indicate that it can meet our energy requirements as a civilization, few people are willing to make the investment to help get us to that point. As such, government funding seems like a necessary first step.
That’s where United States Department of Energy Secretary Steven Chu comes in, like Steven Seagal in 1994’s On Deadly Ground, looking to save the wilderness by kicking eco-terrorist ass, has helped to jumpstart a modest movement towards more sustainable energies in just the past few days. With a recent round of grants, promising companies like Nevada Geothermal (NGP) and U.S. Geothermal (HTM) have received much-needed cash infusions.
Both firms can be considered penny-stock properties and both seem to have, pardon the pun, bright futures ahead of them. The DOE decided to become the loan guarantor in the case of Nevada, with respect to a $98.5-million loan from John Hancock Financial Services, a reputable energy industry lender. With the money, Nevada will further develop its 49.5-megawatt Blue Mountain project. The subject of thin trading, Nevada stocks are currently just below $0.80.
Meanwhile, U.S. Geothermal is trading just below $0.95 per share, was the recipient of a recent $102-million loan to be used in the construction of a 22-megawatt plant in Oregon.
There are no guarantees as the world moves into what can only be considered as of yet unexplored territory. Obviously, geothermal energy is but one choice of several in terms of different types of energy that stand a chance at catching on following the oil-spill fiasco. That being said, if the oil spill ever cleans up (and that’s a big if; almost as big as, what? London by now?), there’s still a very real possibility that the world’s dependence on oil won’t ever fade.
I may sound positively mad for saying this at a moment when public sentiment towards even the sight of the slick stuff is at an all-time low, but, when it comes down to it, people don’t want to stray from oil. Think of Peanuts’ Linus and his security blanket. Oil is the blanket and we’re Linus (while the sucking on his thumb represents some form of an Oedipus complex, maybe?)
Think about it for just a second if you have to, but eventually your worst fears will be confirmed, not your secret love for your mother (I would recommend going to a psychiatrist if you can confirm that, though), but, rather, that people are generally lazy creatures of habit, who can’t be bothered to change, because, let’s face it: change for the better takes time and hard work. Who wants to work when it’s easier to procrastinate and blame undone homework on the family pet? Unfortunately for us, we’ll all be guilty if something on a global scale is not done soon.
U.S. President Barack Obama may have won over the American people with his “it’s time for change” mantra, but, in the end, for change to actually occur, it takes a pro-active effort from everyone involved and not just a vote here and there for someone who can speak well in public. Simon says, though, if we truly have found a solution, we should be able to put our money where our mouth is, or so the saying goes.
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