The real energy revolution so far is shale and the other unconventionals, and we are just at the beginning of this as we just start to understand the very nature of those reserves. It kills peak oil but it does something even more important – it produces incredible amounts of Natural Gas in the process and this is cheap gas as its paid for by oil production. This also means that with all this cheap and clean gas, the US can finally do what it could not do for many decades – reindustrialize. Plus, it makes gas uses that have been on the super exotic side for many decades mainstream. The combustion engine still has a lot of development potential. If we use gas and get away from all those nasty particles and nitrogen oxides a gasoline and diesel engine produces, engine tech can be about combustion again and not only about filtering. And it gives us time to research for true energy breakthroughs. Wind and solar are yesterdays technologies. So are lithium batteries. The future needs more potent stuff.
Throughout history, some 60 percent to 90 percent of every nation’s economy has been consumed by food and fuel costs. Hydrocarbons changed the way that humans organize their productive capacity.