Reuters: Time running out to find alternative fuel sources before oil...

[rasputin1952]

runs out.

<snip>

If we run out of fossil fuels -- by the time the oil price hits 100 dollars or plus, people will be screaming for alternatives, but whether they will be available at that moment of time -- that's my biggest worry," Hoff said.

"That's why we need to use fossil fuels in a more efficient way to have some more time to develop these alternatives up to a level where the robustness is guaranteed and their price has come down ... This could take decades for some technologies."

Stubbornly high oil prices have renewed worldwide interest in sustainable energy sources, such as solar, wind and biomass as well as biofuels.

But the world currently covers just some two percent of its energy needs with renewables as high costs and mixed policy initiatives hinder a wide-spread usage.

"The high oil price makes people at least think about alternatives ... For us it's a definitely a stimulus to work even harder than before," Hoff said.

LOWERING COSTS

<snip>
http://go.reuters.com/newsArticle.jhtml?type=scienceNews&storyID=9412557&src=rss/scienceNews

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Something we have all been saying for a long time. We should have taken the lead decades ago.

[teryang]

1. What's this guy talking about, prices are "plummeting"

Just kidding :)