Oil is not fossil fuel. It is generated deep under ground by either bacteria or a type of fungus. Oil fields that were considered empty in the late 70s are now at 100% capacity. The fact is that oil is renewable.
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This dude is def building a death ray xD j/k
It rolled out as YAL-1A and successfully engaged a boosting ballistic missile on 11 February 2010. Obama scrapped it several years later.