1. How to Kick the Oil Habit.
- Author
-
Lemonick, Michael D., Cullen, Lisa Takeuchi, Masters, Coco, Roston, Eric, Szczesny, Joseph R., and Schuman, Michael
- Subjects
PETROLEUM product sales & prices ,TECHNOLOGICAL innovations ,POWER resources ,HYBRID electric vehicles ,AUTOMOBILE industry ,HYDROGEN as fuel ,FUEL cells - Abstract
This article focuses on the race for new energy resources as oil prices rise. Hybrid-electric cars are proven successes, and now automobile makers including Mercedes-Benz, BMW, Mazda, Mitsubishi and several others are showing off their models to compete with Honda and Toyota. Federal Reserve Board Chairman Alan Greenspan said that the rising oil prices causing this hybrid-hype are bound to create a drag on the economy "from now on." Technological innovations have driven down the cost of alternate energy sources, but the problem is that technologies like hydrogen fuel cells may take years or decades before they are available in sufficient quantities.
- Published
- 2005