Is it true that oil companies will buy patents to alternative fuels to make us keep paying for gas?
February 232010
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.
First of all if the patents were worth much the oil companies would buy the patents and build the product, making tons of money in the new venture. So the idea of these companies looking to destroy new ideas is very false, however they do invest heavily in new development of new energy resources of all types.
Although conserving energy is not in their best interest making money is regardless if it is fossil based. So sitting on good ideas is not a good business mode for the oil companies.
February 23rd, 2010 at 3:06 pm
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.
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February 23rd, 2010 at 3:50 pm
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.
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February 23rd, 2010 at 4:12 pm
Just another urban legend. Forty years ago everyone had heard that there was a simple carburetor that would double or even triple our mileage but the oil companies had kept it off the market. And we didn’t have an internet to spread the word.
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February 23rd, 2010 at 4:56 pm
First of all if the patents were worth much the oil companies would buy the patents and build the product, making tons of money in the new venture. So the idea of these companies looking to destroy new ideas is very false, however they do invest heavily in new development of new energy resources of all types.
Although conserving energy is not in their best interest making money is regardless if it is fossil based. So sitting on good ideas is not a good business mode for the oil companies.
References :
February 23rd, 2010 at 5:31 pm
Well, look at it this way an oil company provides energy. It would stupid for them not to invest other sources besides oil that would provide energy.
Now, if they are actually withholding these sources is another thing. If the new energy source is more profitable than oil of course they will pursue it. Remember in that transition period they will still be able to sell oil products too.
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