Bad news if it is true. All the stock holders in the fuel related market aren’t going to like it. There are billions of dollars hanging in the balance, and it will be easier to buyout the patent rights so it will never hit the consumer market. Just think how much oil consumption will be reduced, and how the price of oil will drop. All the oil producers aren’t going to be happy, including the USA.
It’s only “bad news” if you are being facetious. If true, it would be awesome news (even for the oil company stockholders, as they would also pay less for energy as a consolation to the reduced value of their stock in obsolete companies).
But that said, this is “no” news because this report can be discounted with extreme prejudice. Like others have said, when they generate power, they can get back with us.
If they would buy out the patent rights, then they could make a lot more money by producing the device and selling the power than they do with oil. In addition, oil will always be needed for chemical feedstocks to make plastic, fertilizer, lubrication, etc.
Good news! You have it all wrong! Do you know how much of Americans and the world’s productive wages go to the middle eastern and other oil companies? Most all of that dough will go towards other parts of the economy and their own savings accounts! That equals huge boosts in the world economies! We are being dragged down by the constantly fluctuating gas prices
Very little electricity is generated by oil. This would effect coal companies the most.
Assuming this thing actually works, if someone bought the patent rights, patent rights expire, after which the invention goes into the public domain for free exploitation by anyone who is so inclined.