Coal

The fuel that powered the industrial revolution is not typically put forward as the likely successor to today's oil-based economy. But in an energy-intensive economy trying desperately to free itself from foreign supply disruptions, coal is poised to play a central role in near-term energy production.

Nuclear energy has been effectively hamstrung by excessive regulation and an aggressive environmental movement. Wind and solar don't even offer a competitive price and suffer from reliability issues. With world oil production prone to disruptions from inaccessible, unstable foreign nations, coal offers a compelling alternative.

While "clean coal" is still a slogan rather than a reality, the basic technology is proven and the environmental trade-offs well-understood, if unsavory. The United States has massive supplies of coal that provide substantial independence from foreign entanglements. Just as importantly, China is also home to enormous reserves. And while the United States is still hoping for a miracle energy source, China is moving forward with an ambitious building spree. Putting a new coal-powered plant into service every week, China has already decided that the energy supply of its future will be coal.

Technology companies are fond of advertising their ability to offer tomorrow's business solutions today, but British Petroleum may need to change its ad campaign. The company likes to imagine that BP stands for "beyond petroleum", but the implication is all wrong. Biofuels and other alternative energy make for good public relations, but the simple truth is that coal is the most likely successor to oil.