DOE says world to reach peak oil within 20 years
The report provided four alternatives: vehicles with better fuel economy; coal liquefaction; producing fuel from oil shale; and new methods and technology to continue extracting oil from spent fields. The DOE's report, though, shows that such options could not fulfill half the U.S.' fuel demand until 2025 and it would be disastrous if the oil peak is reached prior to that year.
Popular alternative technologies such as ethanol and electric vehicles were considered, then dismissed, since they would have no serious impact on fuel use in the next 20 years.
[Source: The New Mexican]
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