In the second 2020 presidential debate, which took place last week, President Donald Trump chastised Joe Biden for wanting to "get rid of the oil industry." The day after the debate, Biden clarified his comments and said that he would not get rid of the oil industry or fracking. But I'm sure his comments still gave oil industry workers pause. Regardless of what happens to the oil industry in the years to come, there's an easy way to keep those drillers and others in the exploration and production (E&P) companies employed. You see, Biden would still need well drillers. They just wouldn't be drilling for oil and gas. This 24/7 Energy Source Is as Green as They ComeGeothermal energy is often referred to as the "also-ran renewable energy source." When talking about renewable energy, writers and analysts (yours truly included) often ignore or forget about geothermal. But it's time we start paying attention. Geothermal is the ideal renewable energy source. It's nonpolluting, it's available all the time, and new technology will greatly expand its use. This renewable power has had many technological advancements in the last several decades. Now it's ready to become a mainstream source of clean energy. And here's the best part: The drilling, fracking and well-completion skill sets that all of those struggling oil and gas E&P companies have are needed by the geothermal industry. How Does It Work?Trapping this reliable, always-on energy source is a little tricky. Geothermal heat comes from the Earth's core about 4,000 miles straight down. There, temperatures are as hot as the sun's surface. I'm talking more than 10,800 degrees Fahrenheit. The simplest form of a geothermal energy system is the geothermal heat pump. This system extracts energy found just under the Earth's surface. Water is circulated through a grid of pipes and extracts heat energy from the ground. That heat is then transferred to the inside of a home or other building. Conventional geothermal systems can be used only in areas where the resource is relatively close to the surface. Reykjavík, Iceland, and Boise, Idaho, both tap underground reservoirs of geothermal hot water. |
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