Forbes has a report:
Goldman Sachs Vice Chairman Robert Hormats spoke about the next wave of energy developments. Energy prices have been higher in the past, but the real news is that options markets arent showing any expected declines in the prices for up to five years. That’s not necessarily a bad thing: High prices should finally spur innovation and investment in fixing the problem, he says. Example: flex cars that run on a variety of different fuels. “We are close to a tipping point, he says. Hormats lives in New York City and doesnt drive much himself. When he does, it’s a Lexus.