The Fuel Freedom Foundation was officially launched in October 2012 by entrepreneurs Joseph Hollander and Eyal Aronoff. The foundation has a mission to end the United States' dependence on oil by removing barriers to competition in the

transportation Transport (in British English), or transportation (in American English), is the intentional movement of humans, animals, and goods from one location to another. Modes of transport include air, land (rail and road), water, cable, pipeline, ...

fuel market. The founders believe that fuel prices could be permanently reduced to below $1 a gallon. The foundation's Board of Advisors includes former CIA Director

R. James Woolsey, Jr. Robert James Woolsey Jr. (born September 21, 1941) is an American political appointee who has served in various senior positions. He headed the Central Intelligence Agency as Director of Central Intelligence from February 5, 1993, until January 1 ...

, former New Mexico Governor

Bill Richardson William Blaine Richardson III (born November 15, 1947) is an American politician, author, and diplomat who served as the 30th governor of New Mexico from 2003 to 2011. He was also the U.S. Ambassador to the United Nations and Energy Secretary ...

, former president of the Rockefeller Foundation Peter Goldmark, former dean of the University of Colorado's Graduate School of Public Policy Marshall Kaplan, former president of Shell Oil Company John Hofmeister and Co-director of the Institute for the Analysis of Global Security Gal Luft. The CEO is Joseph A. Cannon.

Outlook and goals

The foundation believes that high

oil price The price of oil, or the oil price, generally refers to the spot price of a barrel () of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Refe ...

s are a result of a systematic

monopoly A monopoly (from Greek language, Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situati ...

. Contrary to a more traditional monopoly, where one company has a large enough market share to control prices, the oil-market is believed to be a monopolistic market because oil is the primary, and in most cases the only, fuel for transportation. These monopolistic forces create a situation where oil expenditures in the U.S. top $780 billion per year, more than twenty times the amount spent on coal. According to the Foundation, outdated regulations prevent drivers from making simple modifications to their engines that would enable their cars to run on alternatives fuels, hence threatening oil's monopoly over the transportation fuel market. Updating these regulations to allow for current vehicles to modify their engines would allow for a near-term, widespread expansion of fuel choice for drivers."Difference Engine: Competition At The Pump"

The Economist ''The Economist'' is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by The Econo ...

, August 20, 2012

Ethanol Ethanol (abbr. EtOH; also called ethyl alcohol, grain alcohol, drinking alcohol, or simply alcohol) is an organic compound. It is an Alcohol (chemistry), alcohol with the chemical formula . Its formula can be also written as or (an ethyl ...

methanol Methanol (also called methyl alcohol and wood spirit, amongst other names) is an organic chemical and the simplest aliphatic alcohol, with the formula C H3 O H (a methyl group linked to a hydroxyl group, often abbreviated as MeOH). It is a ...

natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...

and

electric car An electric car, battery electric car, or all-electric car is an automobile that is propelled by one or more electric motors, using only energy stored in batteries. Compared to internal combustion engine (ICE) vehicles, electric cars are quie ...

s are seen as viable replacement fuels to compete against oil in an open market. No one fuel is explicitly favored over the others but most people believe methanol made from

holds the most promise to break oil's monopoly.Tucker, Willia
"Can Two Software Geeks Save Us From Foreign Oil?"
"Real Clear Energy", November 19, 2012

References

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External links

FuelFreedom.org

Fuel Freedom Foundation on Facebook
Alternative fuels