I'm watching Shai Agassi, founder and CEO of Project Better Place, talk about the scheme he put together to fill Israel with electrical cars and recharging stations, with the ultimate goal of eliminating oil as a transportation fuel in the country. (He's going to do it in Denmark as well.)

(A side note: this meeting room is filled with Herman Miller Aeron chairs. Sweet!)

I'm a little behind on the details (dude talks fast), but it's a torrent of goodness. We're talking about full-size, five-seat, highway-speed vehicles, thousands of charging stations all over the country (where a depleted battery is exchanged for a full one in less time than it takes to fill a car with gas), and costs that are well below what people pay for gas cars. In fact, unless I was hallucinating, I'm pretty sure that one of the pricing plans involves a pre-paid "gas" card -- with a locked-in price -- and a free car.

This is amazing, game-changing stuff, going on as we speak. Tell me about ethanol again?