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Business tycoons outline plans to mine asteroids

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    Fuel, metals targeted

  • Duration 2:48
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We'll get offshore oil drilling for the moment the net search for fuel could go off planet.

And soon.

Today some very wealthy businessmen laid out a plan to start mining asteroids.

Course first you gotta catch him.

They predict this would have -- fueling station ready in just eight years here's the idea.

Work -- -- now.

Robotic space ships would squeeze valuable fuel out of the asteroids.

Along with precious metals like platinum and gold.

It's solid.

May sound far fetched a -- But the tycoons behind the plan say it could become a multi billion dollar industry and they include some very big names.

The filmmaker James Cameron Google CEO Larry Page and the executive chairman Eric Schmidt.

Trace Dallas West Coast news -- what kind of fuel is in that and our asteroids.

These -- are actually filled with -- -- -- -- the water can be broken down and liquid oxygen and as well as liquid hydrogen and then -- inverted -- convert all that stuff -- rocket fuel.

The idea is because water is so heavy and so expensive to bring in this -- he just -- what's already out there and then literally you just wait for spaceships to come flying by listen.

-- were able to successfully.

To successfully deploy and mine for water we're gonna create a network.

Of propellant depots of gas stations that poorly open up the roadways to the rest the solar system.

So it's -- drastically reduce the cost of deep space exploration.

Also the platinum metals that they mind can be used for things like medical device is batteries as well as electronic devices back your -- -- propellant stations along the roadways.

To -- heavens how does one find an asteroid and how -- one extracted these goodies.

Why that's the first part of the plan as they're gonna send up.

They tell us at any given time there -- some 9000.

Asteroids that are flying by earth.

Some -- a few meters wide some are ten miles wide.

The company says this all sounds kinda like science fiction and it does but they say it's legitimate -- This company is not about Paper studies.

This company is not about thinking and dreaming about -- -- this company is about creating a space economy be on the earth.

It's about building real hardware.

It's about doing real things in space to move the needle forward.

And just a complete our science lesson for today -- asteroids are actually pieces of planets that never actually formed it into.

Planets -- right on come along way since faceless rockets thank you very much --

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