The U.S. Secretary of Energy is stressing what he’s calling “flexibility” when it comes to the future use of coal as an energy source in this country. Ernie Moniz led off a regional energy forum at the University of Kentucky Thursday.
Instead of speaking in terms of coal going away as a power source, Secretary Moniz says the emphasis should be on an innovative agenda. He says that includes furthering carbon capture technologies at UK and other universities.
“We need to innovate in ways that will ultimately lead to the dramatic reduction in costs to capture the carbon dioxide after one utilizes the coal,” said Moniz.
Moniz says that may include traditional smokestack technology or a completely different approach. He says innovation is the key to using coal as part of a clean energy sustainable economy.
The Secretary of Energy says hydraulic fracturing carries an enormous economic impact for the nation. He says fracking has helped to revive manufacturing and we cannot turn our backs on its economic benefits. He also believes what he calls “the natural gas revolution” has been a major contributor to our lower CO2 emissions.
Secretary Moniz says it’s also important to address environmental issues related to fracking. He says that includes reducing methane emissions and tackling seismic activity tied to disposal of the waste water.
The top federal energy official calls himself “bullish” when it comes to the future of all-electric vehicles in this country. Moniz says a transportation model relying on renting and not buying electric cars may work in urban communities.
“Maybe in the longer term future a lot of autonomous electric vehicles running around in cities, giving you a lot more flexibility in how you run your life,” noted Moniz.
Moniz points to the Tesla electric car as an example. He says the first model cost upwards of $120,000 targeting to a select market.
The energy secretary says the latest Tesla model has a base price of $35,000.
