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#1 Sep 27, 2009
In the energy front, R & D effforts are now increasingly focused on alternative sources like solar, wind, geothermal, tidal waves, biomass, among others. For example, biomass show future potentials. For example, seaweeds or alage (as some studies have shown) could replace petroleum use in the United States, and biofuel technology is already developed. Other technologies to harness energy resources have also been developed. My question is: Why are we still importing so much petroleum (worth roughly $700B yearly) from the OPEC? Are petroleum-based by-products more reliable and efficient, or that the petrochemical industry would simply would not make the shift owing to the fact that it has so much capital investments made on the infrastructures of oil refining?
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