In the latest blow to the Oil Cartel, researchers at the Massachusetts Institute of Technology (MIT) in the United States have created an ‘ion drive’ aircraft engine that has no moving parts, produces no harmful exhaust, and makes no noise.
Used on spacecraft since the 1960s, ion drives work by firing out a stream of charged particles that propel the vessel forward. In addition to being carbon neutral, they are cheaper to maintain than conventional engines. Because they have no propellers, turbines or fuel pumps to break down, they are also less likely to malfunction. Until now, however, the thrust produced by ion drives hasn’t been enough to overcome the weight of the batteries needed to power them when flying in Earth’s gravity. By taking the first step towards solving this problem, the MIT breakthrough thus represents yet another potential threat to the Oil Cartel’s dominance of the energy sector.
In a similarly important energy-related development, a groundbreaking report published in May 2017 sent shockwaves through the world’s major oil producers by forecasting that, within less than a decade, every new vehicle manufactured will be electric. Written by visionary Stanford University economist Professor Tony Seba, the report suggests that, as people start to switch from car ownership to on-demand driverless electric vehicles, the resulting crash in oil prices will lead to the collapse of the petroleum industry. Stating that “we are on the cusp of one of the fastest, deepest, most consequential disruptions of transportation in history,” Seba predicts that the coming revolution will totally reshape the world’s energy economy.
Step by step, as these positive developments demonstrate, the collapse of Oil Cartel is gradually coming within sight.