Vijay V. Vaitheeswaran's Power to the People: How the Coming Energy Revolution Will PDF

By Vijay V. Vaitheeswaran

ISBN-10: 0374236755

ISBN-13: 9780374236755

ISBN-10: 0374529701

ISBN-13: 9780374529703

A guided travel of a revolution within the making that can provide to alter our livesGlobal warming, rolling black outs, giant tanker spills, oil dependence: our profligate methods have doomed us to undergo such tragedies, correct? possibly, yet Vijay Vaitheeswaran, the strength and surroundings correspondent for The Economist, sees nice chance within the power realm this day, and gear to the folk is his fiercely self sufficient and irresistibly pleasing examine the industrial, political, and technological forces which are reshaping the world's administration of power assets. In it, he files an strength revolution already underway--a revolution as radical because the communications revolution of the earlier decades.From the company boardroom of a Texas oil titan who denies the truth of world warming to a imagine tank nestled within the Rocky Mountains the place a visionary named Amory Lovins is constructing the type of hydrogen fuel-cell expertise that may make the interior combustion engine out of date, Vaitheeswaran gamely pursues the folk who carry the keys to our destiny. Man's quest for power is insatiable. it's also crucial. through keeping off the conventional binaries that pit loose markets opposed to the knowledge of conservation and the necessity for fresh strength, strength to the folk is a ebook that debunks myths with out debunking wish.

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Additional info for Power to the People: How the Coming Energy Revolution Will Transform an Industry, Change Our Lives, and Maybe Even Save the Planet

Example text

Indeed, given that nobody had ever traded energy products in a serious way on the Web before Enron, the firm’s platform forced the energy industry’s slow-moving incumbents to dance to a radically different tune. People #1064 pt1 11/2/04 1:03 PM Page 51 Enron vs. Exxon—or, The Sleeping Giants Awaken 51 The Dinosaur Bites Back A rather different view of the industry’s future comes from Irving, Texas, the epicenter of Exxon’s $200 billion empire. Unlike Enron’s publicity-hungry bosses, Exxon’s boss, Lee Raymond, does not look kindly on journalists.

Enron was born two decades ago in Texas, birthplace of many wacky cults, following the merger of two obscure natural-gas pipeline firms. At the time, the market for gas and electricity was heavily regulated or run by government monopoly almost everywhere. But Lay, a onetime academic and government official, was convinced that things would change. So he lobbied hard for deregulation and positioned himself to capitalize on the slightest aperture or loophole in the law. Thanks to his take-no-prisoners attitude and his aggressive use of financial instruments previously unheard of in the energy industry, Enron came to dominate America’s markets for wholesale gas and electricity.

The reason most people do not think about these things when they flick a power switch is that power usually comes from many miles away. When you turn on your television or stereo, an electric current that may have had its origins in a big plant tens or even hundreds of miles away starts to flow into the device. People #1064 pt1 11/2/04 1:03 PM Page 27 Micropower—Thomas Edison’s Dream Revived 27 their origins far away, and both must flow through elaborate systems of interconnected “pipes” to get to your house.

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Power to the People: How the Coming Energy Revolution Will Transform an Industry, Change Our Lives, and Maybe Even Save the Planet by Vijay V. Vaitheeswaran

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