Jim Woolsey, of Vantage Point Venture Partners (and formerly the head of the CIA) got the conference off to a roaring start in the opening session, as he remarked that “spending hundreds and hundreds and hundreds of billions of dollars every year for oil, much of it from the Middle East, is just about the single stupidest thing that modern society could possibly do. It’s very difficult to think of anything more idiotic then that.”
As he closed, Woolsey hammered home the case, suggesting in the strongest terms that electricity could eliminate the dominance of oil within the world’s economy, just as it had done so to salt, a century ago.
“We can, we should, and we must, as a major national priority … destroy oil’s monopoly.”
June 14th, 2008
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