The future of energy

…the power generation capacity found under the hoods of cars in Germany or America is ten times that of all of the nuclear, coal, and gas power plants combined in those countries.

A compelling and clever fact. The author, Vijay Vaitheeswaran, argues that our energy future is one of decentralization, relative plenty, and lower levels of pollution. His new book is titled Power to the People: How the Coming Energy Revolution Will Transform an Industry, Change Our Lives, and Maybe Even Save the Planet.

We are told that the future will bring hydrogen fuel cells, micropower in lieu of a centralized power grid, and paeans to the visionary genius of Amory Lovins. I am all ready to sign up, except the evidence is missing, at least within the book. The author offers a compelling picture, and it may well be true. But if he is right, why isn’t the price of oil falling over the last few years? Will fuel cells really limit pollution, once we take into account the energy needed to construct the cells? What unknown contingencies could stop his predictions from coming true?

I recommend this book for its enthusiasm and sweeping vision. I also very much liked his treatment of the California power crisis, which is more sophisticated than Paul Krugman’s, among other interesting bits. But I am not yet ready to go short on the shares of either the power companies or the price of oil.