Scientists have genetically modified yeast and E. Coli to produce single-celled organisms which consume organic products and excrete crude oil.
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4 comments:
Sounds promising. Question though, would high powered people squash this before it starts or just take their hands from the Saudi oil to this and still create a fucked up situation for our economy.
I think that no one would quash this, for the simple fact that if this is a viable process, it will take decades to put it into practice to the extent that it replaces our consumption of the old-style crude, allowing oil companies to continue to profit off of their traditional business model for the foreseeable future.
As for creating a fucked-up economy, I'm not sure of what you have in mind. The price of oil isn't the result of greedy oil-companies artificially inflating the price of the stuff. The price is a result of many factors, not the least of which is the ratio between the demand for the stuff and the available supply.
Speculation and a hurting dollar are two other major factors.
Weak dollar, certainly. Speculation, I have doubts. Krugman of the NYT thinks that speculation is having a negligible effect on the price of oil:
http://krugman.blogs.nytimes.com/2008/05/13/more-on-oil-and-speculation/
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