Energy Innovation Panel, Tom Fanning 2

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On January 17, 2019, at the nation's Capitol, I attended a fascinating panel discussion called "Energy Innovation: Fueling America's Economic Engine," brought together some high-powered people. From left are Royal Dutch Shell Chairman Chad Holliday, American Air Liquide Chairman and CEO Michael Graff, Southern Company Chairman and CEO Tom Fanning, Jay Faison of ClearPath, and former Aerospace Corp. CEO Dr. Wanda Austin.

An excerpt of remarks by Tom Fanning:

“The miracle of what directional drilling and fracking has done to the release of heretofore unavailable gas resources. What are the imperatives inside the energy space? Things like storage. Micro-storage in the form of batteries. Macro-storage in the form of things like using the Earth as a battery, pumped-storage hydro, CAES (compressed air energy storage). A variety of big ideas where we can get storage at-scale.

“My sense is lithium-ion is a good technology, but it'll only take us so far. We need real material science advances to be able to push that idea.

“And then the other one is just this idea we're still going to need to do something with the carbon atom. So CCS [carbon capture and storage], which heretofore has been a tough thing. We need to continue to invest in dealing with the carbon atom. I'm so happy with what the Secretary [of Energy, Rick Perry] said about that.

“You know, at the end of the day, how and when these technology advances will manifest themselves. The whole idea about R&D is taking something that is out of the money and putting it in the money.”

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