Steron, an Irish company, has today claimed they have invented a technology that produces free, clean, and constant energy. Supposing they are right, what impact do you think this would have on our world?
see www.steron.net
2006-08-18 20:20:41 · 8 answers · asked by MrTom 1 in Social Science ➔ Economics
Sorry, that's Steorn, not Steron
2006-08-18 20:23:28 · update #1
From an economic point of view, this would be huge. It would exponentially increase the producitivity of the world economy. All the resources that we've squandered on carbon-based fuel (without accounting for the environmental damages in the price of this carbon fuel) could be saved and redirected into more productive activity.
However, I think the whole thing is a hoax or a clumsy mathematical mistake. They claim that scientists or engineers have looked at it and confirmed it, but these folks haven't been willing to go public. Why would they not be willing to go public? Was the mechanical energy input to the system miscalculated, making their system less efficient than they claim?
2006-08-20 08:41:55 · answer #1 · answered by ideogenetic 7 · 0⤊ 1⤋
Your link does not work, so I can not say anything about the company itself. I have never heard of such a thing and I have no idea how it would work.
Markets operate on the principal of scarcity. If the supply is unlimited as you say, there can be no competitive market because the price would be $0, and no suppliers would be willing to supply at this price.
And there is no way it is free. I am sure there may be a cheaper way to produce energy (nuclear for example), but not free. Plus, you have the cost of getting it to households and businesses, never free.
Assuming Steron has some new technological innovation that can provide cheaper energy to the world, it would be very good news for the economy. Over history, most jumps you see in economic welfare occur because of a technological innovation.
2006-08-19 09:27:41 · answer #2 · answered by Justin L 2 · 2⤊ 0⤋
they're theory, based on the 'interaction of magnetic fields' seems no wholey dissimilar to that proposed by Ayn Rand in her incredible 1957 book "Atlas Shrugged" - which instead captured energy from static electricity in the air.
While there is energy to be captured from magnetic fields, it's inherently very weak. i.e. just barely enough to move a compass needle. Pretty hard to power a car off of.
Also- while the energy may be 'free', building the contraption to capture it would not be. For instance- solar energy is free, and falls from the sky at a very high rate. Up to1000 watts per square meter. And even that, after 30 years of research, has proven to be more expensive to capture than to generate electricity elsewhere and send it miles through copper cables.
But- that's not the question you asked.
Firstly- the oil rich nations of the world would rapidly become impoverished. There would be a tremendous upheaval in the economy- which would first probably be negative in the western world, as so much of our economy is based on the distribution of oil. But would ultimately be positive to the most educated and agile world economies that could most quickly take advantage of the new world economy.
2006-08-21 05:13:27 · answer #3 · answered by Morey000 7 · 1⤊ 0⤋
I read about that too.Can't wait for the results.I think it would change every aspect of our lifes.Fewer power lines,less smog in the cities,90% of the problems with the middle east would dissapear overnight.Health costs would go down due to less polution.If the energy source is very small and built in to lets say an airconditioning, unit or refrigerator,or even a house,then people could literally live anywhere on the planet.The list is just to long.It all depends on how small and portable it will be,or how large,and the cost to build ,or manufacture. It is supposed to run on Earths magnetic currents if I read correctly.But if it could be used in outer space,then space travel would become unlimited in every way.It could end most wars going on today.
2006-08-18 20:35:46 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I doubt they will ever get away with it.....
Nikola Tesla claimed the same, and he was silenced decades ago. Others have been as well.
It could have the potential to turn the economy upside down.....
Scary, actually, even though it would be wonderful to have.
2006-08-18 20:29:37 · answer #5 · answered by JC 5 · 1⤊ 0⤋
Justin L hit the nail on the head. Good job!
2006-08-19 11:00:13 · answer #6 · answered by a_liberal_economist 3 · 1⤊ 0⤋
No more worries about oil, but much more concerns about global warming...
2006-08-22 06:43:59 · answer #7 · answered by NC 7 · 0⤊ 1⤋
It would still cost to have it done. Nice thought.
2006-08-18 20:28:23 · answer #8 · answered by elliebear 7 · 1⤊ 1⤋