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New fuel is already available. It has been for years but since it would mean big trouble for the oil industry and thus for the biggest part of the worlds economy, governments everywhere are trying to pospone the use of those fuels as long as they posibly can. When oil does finaly run out, new sources will automaticaly be used. No problems anywhere... except that we won't have anymore plastic. That might be a problem.
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You hit the nail on the head with that post. The oil companies sure as hell arent giving up until we are completely dry.