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Today I came across this article in The Atlantic published in May, 2013. It contains some very interesting historical facts about oil as well as present-day discoveries and fuel usage. It is a long read, and it contains a video that is informative. According to the article, Japan is leading the research in how to economically mine this fuel from the bottom of the sea (at least, it was four years ago).

The take-away for me is that the long-term price of gasoline probably will not rise that much do to the ever-increasing reserves of oil, however much harder to extract it it will be. The use of methane gas extracted from “fire ice” will free up oil for producing gasoline, IMO.

https://www.theatlantic.com/magazine/archive/2013/05/what-if-we-never-run-out-of-oil/309294
 

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This has been a dream fuel for a very long time. Remember the tv show Dallas? Bobby Ewing was trying to do that way back then. Doesn't seem to be practical or necessary these days, but maybe I'm wrong.
 

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Stored mostly in broad, shallow layers beneath the seafloor, methane hydrate is, by some estimates, twice as abundant as all other fossil fuels combined.
Scientists have experimented, for instance, with injecting carbon dioxide into methane hydrate; for complex chemical reasons, the crystals “prefer” the carbon dioxide, taking it in and expelling natural gas. If undersea methane hydrate could be mined in this fashion, the sequestered carbon dioxide, forever imprisoned in ice beneath the waves, would offset some emissions. This new kind of carbon sequestration could ameliorate some of the long-term environmental damage that widespread global use of cheap natural gas from methane hydrate will do.
Interesting.
 

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