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A Scientific Black Swan? And the potential implication for Oil producers

Three decades ago the then Saudi Arabian Oil Minister Sheikh Zaki Yamani was quoted as saying that “The Stone Age did not end for lack of stone, and the Oil Age will end long before the world runs out of oil.” Ever since there have been false dawns on how if at all this would come about. The ever receding but endlessly promising nuclear fusion; renewable's in all forms ;silver bullet crackpot theories derided as 'junk science'. The list goes on and on...
In the past few months however one of those 'junk science' approaches along a number of parallel but somewhat related tracks seems to be re-emerging and gaining credibility (not that it ever went away). This science of LENR and or Cold Fusion (yes that Cold Fusion) is gaining traction and the attention of the US Defense Department amongst many others,something it seems is about to break. From the increased boardroom appointments at Blacklight Power (they choose to not characterize their process as CF) to the fact that 60 Mins is about to profile the resurgence of Cold Fusion one can discern the beginnings of a potential phase transition-A Technological Black Swan.
The potential implications for the oil dependent commodity producing countries-Nigeria,Gabon et. al. if this all came to pass might be construed as catastrophic (they derive over 90% of their revenues from black gold).More sensible folks should beg to differ though,if anything the removal of the Oil Curse would be a godsend for societies that hitherto have been warped and stunted in their socioeconomic development,chronic sufferers of the Dutch Disease or worse.
Update: watch full 60 minutes clip below.



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