Thursday, August 23, 2007
If ever the time was right for Steorn's Orbo technology to come along, then it's now. World oil production is on the downward slope, yet demands especially from developing countries like China and India are increasing rapidly.
"This much is certain: no initiative put in place starting today can have a substantial effect on the peak production year. No Caspian Sea exploration, no drilling in the South China Sea, no SUV replacements, no renewable energy projects can be brought on at a sufficient rate to avoid a bidding war for the remaining oil. At least, let's just hope that the war is waged with cash instead of with nuclear warheads."
by Kenneth S. Deffeyes (Princeton University Press)