Greetings and Introductions: Chapter President, John Gotthold, greets all attendees and asks each attendee to state their name and a short synopsis of their background and what they hope to learn by attending the meeting. 10 minutes.

1. Government Support for Hydrogen: Iranian oil bourse. One of the major reasons for President Bush to lead us into the quagmire of Iraq was Saddam's attempt to price oil in Euros. Now Iran is setting up an international oil trading center that will operate in Gold and Euros. Without oil denominated in US dollars our ability to buy oil will be vastly curtailed. We would have to pay with actual goods and services instead of just printed paper. Fun to come.

2. Business Deals: HOKU Scientific has spiked from $6.00 to $12.00 in three weeks as they announced profitability and got their membrane selected for an Idatek Navy fuel cell contract. Biggest economic boom is for purveyors of motor scooters and motorcycles that get really good mileage. In contrast, sales of SUVs are down fifty one percent in the last quarter. Delphi - the worlds largest auto parts supplier - has gone Chapter Eleven. Signs of the shifting times.

3. Technology: A federal grant will spark the development of a WIND power automated hydrogen generation plant in Boise, Idaho, first of its kind in the country. UCLA engineers have created solar cells at 4.4 percent efficiency from everyday cheap plastic. By far the cheapest fuel is conservation. We will look at costs across all fuel types. Conservation efficiency costs 3.5 cents per kilowatt hour. The estimate is that the US can easily double its efficiency, cutting our fuel bill in half over the next ten years.