EEStor V. Big Oil

[sarah]

The newest threat to the oil industry has come in the form of a new technology. A new engine to be exact... Non-combustion and non-oil using, this new invention was granted a patent in April, and is now poised on the brink of trying to overturn what is one of the most powerful and largest industries in the world... big oil.
I think personally that if this technology works as well as it is believed to, and is usable in day-to-day life the oil industry is in some serious trouble.

I want to ask those of you with more business knowledge than me what your take is on this new technology... is it really as big of a threat to big oil as I think it may be?
Here is the link to the article I read:

http://money.cnn.com/2006/09/15/technology/disruptors_eestor.biz2/index.htm

 

[tater03]

I'm not big on business but from what I read it sounds like it could hurt the oil industry. Now I'm left to wondering if the government will allow it in the near future. Sorry, but sometimes I get the feeling they like us needing the oil so bad. I mean they seen this oil shortage coming and they have just not spent the time or resources into looking for alternatives. Just my take on the situation.

 

[sarah]

I am willing to state with come certainty that the government (American) has nothing but love for big oil. They have no problem with our current dependence on oil, and I have a feeling they will not like this new development. It makes me wonder how long they might have been keeping it under wraps in order to keep the oil business booming.