I wouldn't be so sure about that.

It's hard to jumpstart something when there is no company history or profit pool. The oil industry has had good reason to suppress innovation until recently. Those with the greatest profit pool from which to conduct R and D had little reason to do so. This is changing.

Those with the greatest profit pool will always try to invest it in something that would get them ahead of their competitors. Imagine if some other company invented a highly efficient engine that could get 100 mpg off of ethanol (or about 120 mpg off of regular gas) when put in a standard SUV. Think about what would happen to the current automakers. Even if one of the major companies bought the engine, all of the others would be doomed for the time being. That's why all of the companies would have an interest in trying to develop something like that.

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"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.

--Murray Rothbard

Quote:

Originally Posted by Skinny. A liberal is just a libertarian who hasn't studied economics.