Spectacular heat transfer enhancement has been measured in nanofluid suspensions. Attempts in explaining these experimental results did not yield yet a definite answer. Modeling the heat conduction process in nanofluid suspensions is being shown to be a special case of heat conduction in porous media subject to Lack of Local thermal equilibrium (LaLotheq). The topic of heat conduction in porous media subject to Lack of Local thermal equilibrium (LaLotheq) is reviewed, introducing one of the most accurate methods of measuring the thermal conductivity, the transient hot wire method, and discusses its possible application to dual-phase systems. Maxwell's concept of effective thermal conductivity is then introduced and theoretical results applicable for nanofluid suspensions are compared with published experimental data.