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How quickly stakeholders can reach consensus on that energy model will determine how fast existing and new technologies can work togetheras the world faces the prospect of dwindling oil reserves . In that scenario, oil extraction ends and supplies collapse.
“There’s an almost irrational opposition on the part of many conservatives towards the electrification of the automobile, alternative energy sources — and many of these things are being laid at the foot of the Obama administration,” said former General Motors vice chairman Robert Lutz on CNBC's " Squawk Box ."
Statements like that from a former Big Three auto executive suggest attitudes about energy may be changing. Other cleaner-burning fossil fuels are extending into more industries.
Jim Hackett, chief executive of Anadarko Petroleum, says American energy independence can be achieved through natural gas and increased domestic oil production.
While efforts to drill offshore and in the Alaska Arctic Wildlife Reserve have stalled, hydraulic rock-fracturing technology, also known as fracking, has allowed tapping of major reserves in North Dakota.
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