Serious Research Behind Hydratus Belies a Very Serious Problem
Stock GuruProfile – OTCBB: ETLY – ECOtality, Inc.– The Fuel Cell Store
I think it is sometimes important to participate in a reality check. To step back and get the big picture, and that is not always pleasant. The fact is the world desperately needs hydrogen energy to work.
The Hydratus addresses the commercialization issues facing hydrogen fuel cell technologies by producing hydrogen on-demand — using magnesium and water — in a system that emits no exhaust other than pure water. ECOtality believes this technology will be implemented in a proof of concept vehicle in the second half of 2007, and they have partnered with some of the leading research institutions in the world in the creation of the Hydratus.*
The Hydrogen fuel cell energy alternative is crucial to the survival of the world as we know it!
I know this sounds extreme, but so did global warming, which is now accepted as a fundamental fact.
Hydrogen fuel cells would provide us with a permanent, renewable, clean energy source as they combine hydrogen and oxygen chemically to produce electricity, water and heat and the fact is that we are running out of oil. Period.
How Serious is the Oil Crisis? Here are some very sobering and unpleasant thoughts.
In depth look at the Peak Oil Theory and the Hubbert Curve Theory.
The peak oil theory was created in 1956 and soundly discounted, ridiculed and dismissed — by governments and large oil corporations. Sound familiar? Sounds like global warming? No one disputes that the world will run out of oil. The fudge factor comes in the date.
One thing most oil analysts agree on is that depletion of oil fields follows a predictable bell curve. This has not changed since the Shell geologist M King Hubbert made a mathematical model in 1956 to predict what would happen to US petroleum production. The Hubbert Curve shows that at the beginning, production from any oil field rises sharply, then reaches a plateau before falling into a terminal decline.
His prediction that US production would peak in 1969 was ridiculed by those who claimed it could increase indefinitely. Hubbert was correct. U.S. production peaked in 1970 and has been in decline ever since.
Scientists have criticized a major review of the world’s remaining oil reserves, warning that the end of oil is coming sooner than governments and oil companies are prepared to admit.
BP Gives the World 40 More Years of Oil Reserves
BP’s Statistical Review of World Energy, published this summer, indicates the world still has “proven” reserves to provide 40 years of consumption at current rates. The assessment, based on officially reported figures, has once again pushed back the estimate of when the world will run dry.
Oil Depletion Analysis Center Sets Oil Peak Date in Four Years
However, scientists led by the London-based Oil Depletion Analysis Center, say that global production of oil is set to peak in the next four years before entering a steepening decline which will have massive consequences for the world economy and the way that we live our lives. According to the “peak oil” theory, our consumption of oil will catch, then outstrip our discovery of new reserves and we will begin to deplete known reserves.
Dr. Colin Campbell, who heads the Depletion Analysis Center, is a former chief geologist and vice-president at a group of premier oil majors including BP, Shell, Fina, Exxon and ChevronTexaco.
He explains that the peak of regular oil – the cheap and easy to extract stuff – has already come and gone in 2005. Even when you factor in the more difficult to extract heavy oil, deep sea reserves, polar regions and liquid taken from gas, the peak will come as soon as 2011, he says.
Jeremy Leggert, like Dr Campbell, is a geologist-turned conservationist whose book Half Gone: Oil, Gas, Hot Air and the Global Energy Crisis brought “peak oil” theory to a wider audience. He compares industry and government reluctance to face up to the impending end of oil, to climate change denial.
In 1999, Britain’s oil reserves in the North Sea peaked, but for two years after this became apparent, Mr Leggert claims, it was heresy for anyone in official circles to say so. “Not meeting demand is not an option. In fact, it is an act of treason,” he says.
The Prestigious Petroleum Review Begins to Embrace Peak Theory
In the 1970s Chris Skrebowski was a long-term planner for BP. Today he edits the Petroleum Review and is one of a growing number of industry insiders converting to peak theory. “I was extremely skeptical to start with,” he now admits. “We have enough capacity coming online for the next two-and-a-half years. After that the situation deteriorates.”
Demand Surging while Reserves Declining Is Indisputable Fact
What no one, not even BP, disagrees with is that demand is surging. The rapid growth of China and India matched with the developed world’s dependence on oil, means that a lot more oil will have to come from somewhere. BP’s review shows that world demand for oil has grown faster in the past five years than in the second half of the 1990s. Today we consume an average of 85 million barrels daily.
According to the most conservative estimates from the International Energy Agency, that figure will rise to 113 million barrels by 2030. Two-thirds of the world’s oil reserves lie in the Middle East and increasing demand will have to be met with massive increases in supply from this region.
Colin Campbell – Gives Insider View
BP’s Statistical Review is the most widely used estimate of world oil reserves but as Dr Campbell, head of Depletion Analysis Center, points out, it is only a summary of highly political estimates supplied by governments and oil companies.
As Dr Campbell explains: “When I was the boss of an oil company I would never tell the truth. It’s not part of the game.”
In Kuwait last year, a journalist found documents suggesting the country’s real reserves were half of what was reported. Sadad al-Huseini, a former chief executive of Saudi’s oil corporation told the New York Times, “The problem is that you go from 79 million barrels a day in 2002 to 84.5 million in 2004. You’re leaping by two to three million [barrels a day]” each year, he told The New York Times. “That’s like a whole new Saudi Arabia every couple of years. It can’t be done indefinitely.”
These are sobering thoughts.
Hydrogen as Energy Source
The notion that hydrogen is an ‘alternative’ energy may become antiquated. The Hydratus is the crown jewel of Ecotality’s master business plan which involves many different approaches to alternative energy.
This very serious product with serious research behind it will develop a hydrogen fuel cell technology that is a patented technology of ECOtality, Inc.
These very serious research associations have joined with ETLY in its development. Arizona State University, Department of Chemical Engineering, National Aeronautics and Space Administration’s (NASA) Jet Propulsion Laboratory (JPL) Task Force, GreenMountain Engineering and Airboss Aerospace.
The Fuel Cell Store will serve as a well established outlet for this vital product.
Fuel Cells, which are portable, provide power for residential and commercial users in situations where grid power is not convenient or not available.
ECOtality is making this happen with collaborative research with the leading universities in the world on this subject, The Fuel Cell Store, their very cool blog, real world products, and educational products.
Don’t forget the Fuel Cell Store Blog.
Source: ECOtality, Inc.
ECOtality,Inc.
6821 E. Thomas Rd.
Scottsdale AZ. 85251
Phone: (480) 219-5005
Fax: (480) 219-5338
Email: info@ECOtality.com
Website: www.ecotality.com
About ECOtality, Inc.: ECOtality, Inc. headquartered in Scottsdale, Ariz., is a technology innovator that leverages global R&D resources to develop and commercialize renewable energy technologies, specifically aimed at addressing today’s global energy challenges. Through strategic partnerships, ECOtality applies scientific knowledge and creates proprietary green energy technologies. ECOtality is focused on bringing innovative eco-friendly concepts to practical commercialization through the acquisition, partnership and development of early stage renewable energy technologies. With strategic partnerships and an aggressive developmental model, the company strives to accelerate the market applicability of clean technologies to become accepted alternatives to carbon-based fuel technologies. For more information about ECOtality, Inc. please visit www.ecotality.com.
Forward-Looking Statements: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
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