  General scenario of turbulence theory is proposed and applied to streaky
wall-bounded turbulence. This scenario introduces a new field of transverse
waves. Significance of the theory rests on a mathematical theorem associated
with the conservation law of current flux, expressed in a form of 4d physical
space-time representation, which predicts a system of Maxwell-type equation and
supports transverse waves traveling with a phase speed c_t. In regard to the
streaky wall flows, there exist both dynamical mechanism and energy channel
which excite transverse waves and exchange energy between flow field and wave
field. Energy is supplied from the flow field to the wave field if wavelengths
are sufficiently large. The waves are accompanied with a new mechanism of
energy dissipation, an internal friction analogous to the Ohm's effect. Some
part of the energy is dissipated into heat. Thus, there exists a sustaining
mechanism, which implies that the streaky structure of wall-bounded turbulence
is a dissipative structure.
  The predictions are consistent with experimental observations of wall
turbulence: (i) Existence of traveling waves: The waves are characterized by
two scales of wavelength and a damping-length d. (ii) Existence of two large
scales (LSM and VLSM) observed in turbulent shear flows: Those are interpreted
by the waves amplified with the transient growth mechanism and maintained by
interaction with the new transverse wave field. The waves are robust since they
have their own energy and momentum. (iii) Enhanced energy dissipation in wavy
turbulence. Its bulk rate of energy dissipation takes a form resembling the
models of eddy-viscosity, and its coefficient \nu_D is estimated to be of the
order of c_t d and much larger than the molecular viscosity.
  No self-contradiction is incurred by the new field introduced.
