This news comes at a time when "Peak Oil" is the buzz phrase among environmental activists, global warming scaremongers and other assorted zombies opposed to human progress. Peak oil is the point in time (alarmists say the time is NOW) when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline.
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Peak oil doesn't mean no progress my friend, on the contrary, it will mean the greatest progress mankind will ever see. If we can work together and come up with new technologies, practices and behaviours, then we can easily move beyond oil.
ReplyDeleteI know venezuela has a lot of bitumen, but its expensive to extract and process, thats why it hasn't been exploited yet.
Kalki,
ReplyDeleteIn America, wood was the primary source of energy until the late 1800's. It was supplanted by coal. Coal was surpassed by oil in 1950. No other fuel but oil can supply energy for air transport. No other energy can maintain vehicular traffic anywhere near current levels. Nevertheless, you argue that an alleged replacement for oil will bring to pass the greatest progess mankind "has yet to see". Would you mind enlightening me about the fuel you are referring to, and how said fuel will bring about more progress than say, avaiation and automobiles?