Posted: Sun May 13, 2012 10:02 am Post subject: The Beginning of a Revolution -- An Air-Powered Car?
Tata, the Indian conglomerate, is apparently introducing a compressed-air-powered car in the Indian market in August (link, via Bourque.org).
Given that both China & India are so dependent on imports for their energy needs, it is probably a question of when -- not whether -- these countries develop alternative sources for their energy needs. India, for example, has invested significantly in solar power (link, via New York Times).
If alternative energy sources change the supply-demand equations for oil, could oil drop back down to the low-$30s in the next few years? Possibly. If that happens, can Canadian oilsands development remain viable? Probably not.
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The Beginning of a Revolution -- An Air-Powered Car?