Word: oil
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...start a fistfight among environmentalists is to bring up the topic of biofuels - plant-based liquid fuels like ethanol that could potentially take the place of petroleum. Biofuel revolutionaries - like Silicon Valley venture capitalist Vinod Khosla - see plant power as a way to break America's dependence on foreign oil, and produce auto fuel that doesn't kill the climate. Opponents dismiss biofuels - most of which are currently distilled from crops like corn and sugar cane - as a blind alley, one that drives up food prices without saving the earth...
...from corn, or better, sugar cane. Both the Department of Energy (DoE) and private companies like Broomfield, Colo.-based Range Fuels are developing the technology to commercialize cellulosic ethanol, but that day might still be years away. "We're doing serious technological innovation on this," Khosla told TIME recently. "Oil is a big market, and there will be breakthroughs...
...world's energy needs. Solar thermal, plug-in hybrid and geothermal technology are all part of Plan B. (Did you know that the geothermal energy contained in the upper six miles of the Earth's crust is 50,000 times more powerful than all of our oil and natural gas? Brown does...
...immediate cause of the latest price jump was unrest in oil-rich Nigeria, but the bigger issue is that not enough new supply is coming online to make up for declining production at many existing fields...
...Oil is priced in U.S. dollars, so when the buck loses ground against other currencies, the price of crude generally rises. Speculators betting that this will continue may be driving it up even more...