Daily archives: July 3, 2005

Money to burn

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It might be worth investing in a solar powered car if, as one analyst predicts, oil prices are set to soar to over $100 a barrel by Christmas.

But [Texan oil analyst Matt] Simmons believes surging demand will keep prices bubbling well above $50. ‘We could be at $100 by this winter. We have the biggest risk we have ever had of demand exceeding supply. We are now just about to face up to the biggest crisis we have ever had,’ he said.

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Dark Age?

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Jonathan Huebner, a physicist working at the Pentagon’s Naval Air Warfare Center in China Lake, California, believes the rate of technical innovation is slowing. Humanity’s inventiveness, he says, reached a peak a century ago and has been steadily decreasing since.

Huebner compared the number of major innovations to population over time. By his calculations the current global rate of innovation, which is running at seven “important technological developments” per billion people per year, matches the rate in 1600. Despite far higher standards of education and massive R&D funding “it is more difficult now for people to develop new technology”, Huebner says.

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Money to burn

This entry was posted in Solar Power on by

It might be worth investing in a solar powered car if, as one analyst predicts, oil prices are set to soar to over $100 a barrel by Christmas.

But [Texan oil analyst Matt] Simmons believes surging demand will keep prices bubbling well above $50. ‘We could be at $100 by this winter. We have the biggest risk we have ever had of demand exceeding supply. We are now just about to face up to the biggest crisis we have ever had,’ he said.

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