Apparently oil companies will buy patents to alternative fuels and do nothing with them so no one can take advantage of these alternative fuels, hence forcing us to keep buying gas.
Originally posted 2008-12-21 12:20:07.
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Is it true that oil companies will buy patents to alternative fuels to make us keep paying for gas?
Apparently oil companies will buy patents to alternative fuels and do nothing with them so no one can take advantage of these alternative fuels, hence forcing us to keep buying gas.
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Why wouldn’t they? That’s a smart plan. Someone is trying to develop a product that defeats the purpose of their product that brings in billions of dollars per year for them. But I think you are wrong because oil companies do not just do nothing with them, they work with other companies in trying to develop new fuels that are more environmentally friendly and sustainable because they also realize that someday the world will run out of oil.
Well currently there aren’t that many patents for alternative fuels, unfortunately. Successful alternative fuel is a long way from being discovered.
However, it would make sense that oil companies would do this. As the oil begins to run out, they will be able to charge people incredible sums of money for it and reap profits. Also, once they do run out, they will have patents that they could use to provide alternatives to oil.
I doubt that would entirely work, though. I’m sure if someone comes up with a good alternative, they will make their own company and manufacture it on their own. The point is – we just don’t have any alternative fuel patents.