I'll you why I think that: The hose connector on my radiator broke not too long ago, and I was shocked at how instantly my car overheated without the capacity to circulate steam through the radiator. And the entire function of the radiator itself is to distribute heat from that steam over the largest surface area of metal possible and into the air. The difference between the ambient temperature (air coming in front) and the steam is exploited massively to cool the engine, it won't run long without it. Yet that difference between temperature, in terms of thermodynamics, is the very definition of low entropy, the capacity to do work, and its being wasted, released as heat.
BMW exploited what I'm talking about with this:
http://en.wikipedia.org/wiki/TurbosteamerAnd got a 15% increase in gas efficiency (think of that alone in terms of gas savings for all the cars in the world) But that was only from the exaust heat, not the radiator or the rest, which I imagine accounts for more than 20% like that line reports: Just look at the mileage on the Prius, due in large part to the fact it reharvests kinetic energy on braking rather than releasing it through friction heat on braking pads. Also important, I think there are improvements that can be made in terms of steam engines and have been...But not yet in mobile engines. I read somewhere of a stationary power plant getting 93% efficiency from a kind of multi-stage steam design. (energy expenditure includes refrigeration to control ambient temperature) So this stuff is out there. Of course I could be wrong for technical reasons I don't understand, but I believe we could be doing much better. And also this is of course all negated if we had better batteries, then you just get it all from that 93% efficient power plant with pure electric cars.
But all my nerdery aside, its your second paragraph that really gets at the truth: we've sandbagged ourselves, and this isn't about tech. We know we could be doing better, but we aren't. We haven't prepared for the future. But my question is, where are the financiers? Where are these brilliant Wall street guys who get rich off guessing the future, and why can't they see this coming as a group, at least enough to make themselves profit off the coming crisis by being the ones who own the infrastructure the world will soon need? I just don't get it.