BitMine Immersion Technologies Inc. (BMNR)

[Hilander]

Oil & Gas Still Safe Bet For Now:

Geothermal Power's first hirdle to jump is, about $800 million in research and development is needed over the next decade to make the drilling technology cost-effective. Second, the Department of Energy is trying to kill the program by ending its funding.

On Monday, the DOE unveiled a $24.3 billion fiscal 2008 budget with more funding for nuclear power, alternative fuels, and science programs – but nothing for geo- thermal.
Geothermal's research budget at DOE was $24 million in fiscal 2006 – the smallest among major federal renewable energy research. But at White House budget office urging, the department eliminated geothermal funding for 2007.

Geothermal plants could supply about 100,000 megawatts – the equivalent of 200 big coal-burning power plants – by 2050, according to the report. That power could help replace the 50,000 megawatts of coal-fired power and 40,000 megawatts of nuclear power that the US is expected to lose over the next 25 years as it closes old power plants.

New techniques could expand the capabilities of geothermal power, producing 10 percent of US electricity by 2050.

Entire Article By: Mark Clayton
http://www.csmonitor.com/2007/0207/p01s04-stss.html