Friday, January 4, 2008
If ever there was a time for Steorn or any other free energy technology to take hold, then it's 2008. Over the next few years it will become impossible to keep oil production in line with demand. Higher prices, oil shortages and ultimately oil wars may result.
Startegic control of oil reserves may become an issue to end all issues.
We need to get behind the companies who are attempting to bring these technologies to market, otherwise we are heading for certain disaster. Fossil fuels have dominated for the last 100 years and it's time our energy generation changed significantly away from these polluting forms of energy.
Check out the work of Nikola Tesla and how "big oil" soon put an end to any thoughts of free energy he had (despite working devices). The famous conversation he apparently had where JP Morgan turns to Tesla and says 'free energy? - that's no good, how the hell do we put a meter on that".
Extract From BBC Business:
The biggest catalyst for oil's seemingly remorseless rise has been the simplest economic driver there is: the balance between demand and supply.
Demand is at an all-time high, fuelled by the continued breakneck economic expansion of the Indian and Chinese economies.
With more than a billion people in each country, and both economies growing fast, manufacturers and consumers are sucking in energy at an ever-increasing rate.
China overtook Japan as the world's second-largest consumer of oil in 2003 and is closing in on the US, with demand for oil growing at about 15% a year.
Analysts worry global demand for oil is so intense that supplies may not keep pace.
Demand will rise by an average of 2.2 million barrels a day next year, the International Energy Agency says, compared with the 1.5 million-barrel rise seen in 2007.
It says annual demand will rise 2% up to 2012, while other projections suggest demand could soar from about 90 million barrels a day to as much as 140 million over 25 years.
Where will prices head next?
Many people scoffed when analysts from investment bank Goldman Sachs said in 2005 that prices could eventually top $100 a barrel.
"All of the factors that pushed us above $80 are now moving us higher," said Peter Beutel at Cameron Hanover in Connecticut.
"Until we get more supply or demand starts to take a hit, there is no reason we can't see any number."