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Publisher's Notes

Published Thursday Sep 18, 2008

As NH businesses and families brace for the approaching winter months with oil prices north of $100 per barrel, the potential damage to NH's economy is again focusing our attention on solving America's energy challenges.
These challenges will not be cured with any single bullet, but rather through a diversified approach emphasizing greater conservation, maximizing our domestic oil resources, improving alternative and renewable technologies, and encouraging the construction of new nuclear plants. While promising advancements have been made in alternative energy technologies, like solar and wind, these sources alone simply will not be enough to provide America's energy needs in the medium term.

Most experts agree that alternative energy technologies will take years to gain widespread adoption in the United States. While research and development in these alternative areas should continue apace and be aided by tax incentives, it would be irresponsible to rely solely on the future potential of solar and wind to fuel our economy in the coming 20 years. Even if alternative technology dramatically improves the economics of using wind and power energy, transitioning America's energy infrastructure from oil to alternative sources will take decades to achieve. In the meantime, American energy demand is expected to grow by 30 percent by 2030.

Two common-sense approaches to address our medium-term needs include pursuing domestic oil resources contained under the Arctic National Wildlife Refuge (ANWR), and permitting more nuclear power plants.

While it would take some time for oil to start flowing from ANWR, the impact on the oil futures market would be substantial, quickly reducing the cost of fuel for Americans. It would send a strong message to OPEC that America is serious about achieving energy independence. America would send $14 billion less overseas annually and reduce its oil imports from the dangerously high level of 65 percent. Given modern drilling techniques, the footprint of the proposed drilling operations would be less than 0.5 percent of the entire ANWR acreage.

It's been 30 years since a nuclear power plant has been built in the United States, yet nuclear power provides nearly 20 percent of the electricity the nation consumes today. Nuclear power generation produces no greenhouse gases and doesn't require foreign oil. While the nuclear industry is working to develop technologies that will recycle spent nuclear material, the advantages of nuclear energy outweigh the risks. Here in NH, the Seabrook plant has been operating with an excellent record of safety, and adding a second reactor to the site could be a relatively cost-effective option to NH's future energy needs.

Sincerely,
Sean Mahoney
Publisher

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