The petrochemicals maker and oil refiner, Reliance Industries, reported a 27percentt increase in quarterly profit.
More recently, his "Twenty Hydrogen Myths," published last summer on the institute's Web site (www.rmi.org), ignited arguments about whether Mr. Lovins had misleadingly played down or ignored hurdles to moving from an economy based on oil to reliance on clean-burning hydrogen, which still must be produced from some basic energy source.
With gasoline prices hovering near $4 per gallon and rising energy bills at home and at work, our economy is struggling with the burden of imported oil and reliance on fossil fuels.
We now rely on foreign suppliers for 58percentt of our crude oil, and that reliance carries several risks.
A suitable combination of systems based on renewable energy, storage devices, smart devices and EVs will allow to obtain significant benefits in terms of operating costs, environmental impact (by reducing oil consumption) and reliance on the power grid.
But Argentina's economic instability has affected its reliability as a supplier, and high oil prices make reliance on on imports undesirable.
The rise in US production means the world's reliance on oil from traditional oil producing countries in the Middle East, which make up Opec (the Organization of the Petroleum Exporting Countries), would end soon, according to the report.
Gingrich deplored America's reliance on oil imports, and especially oil from the Persian Gulf.
Due to current reliance on oil derivatives (diesel and fuel oil), these economies are susceptible to high prices and volatility.
The geopolitical shift that would result from decreasing reliance on oil, and more specifically on Russian oil and gas, is one that European politicians might not want to ignore.
