Not long ago, a think tank engaged in a horrific scenario, a world that ran out of oil. Could that happen? Actually, considering the demand it appears even if we do not actually completely run out, we can expect some massive disruptions along the way as the world demand in places like China and India increase.
Indeed, and perhaps it will, although I don't believe we will even need oil in 60-years, if new technologies are allowed to come to market. Nano technologies will help usher in hydrogen fuels for transportation due to the ability to hold the hydrogen in the automobile tanks made of that material. Meanwhile, lighter cars made out of the same will be lots more efficient.
Also increased efficiency in solar cells will help us to utilize that energy source to power up batteries and keep the energy grids humming. Think about ocean wave energy, which is very efficient, 750 times denser than air that turn wind turbines.
Things are happening, it is a matter of getting some of the political debris and bureaucracy out of the way and allowing re-investment as things change for those companies so heavily invested in other current infrastructures, and yes the price will go up, the market will adjust and some industries will become obsolete as new technologies take hold. That is just the way it is.
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