Ever since the first commercial oil well in Canada became operational in 1858 at Oil Springs, Ontario, the world has been almost completely depending on petrol and diesel for transport.
However, a few years ago, the realization dawned that a day will come when the world reserve of petroleum will be drained. In addition, the price fluctuations in oil price in the last decades point out that the production of oil will someway or other not be able to meet the demand (The Hubbert peak Theory). According to Hubbert’s theory, for any given geographical area, from an individual oil field to the planet as a whole, the rate of oil production tends to follow a bell-shaped curve.
Early in the curve (pre-peak), production increases due to the addition of infrastructure. Later in the curve (post-peak), production declines due to resource crunches. Therefore, different technologies are being developed in different laboratories all....
