Space Elevator in the Offing

The race is on to build the first "space elevator' - long dismissed as science fiction - to carry people and materials into orbit along a cable thousands of miles long.
In a significant step, American aviation regulators have just given permission for the opening trials of a prototype, while a competition to be launched next month follows in the wake of the $10 million (£5.6 million) "X Prize'', which led to the first privately developed craft leaving the Earth's atmosphere, briefly, last year.
Supporters of the elevator concept promise a future in space that is both cheap and accessible, and contrast it to Nasa's announcement last week that it will be relying on 40-year-old technology from the Apollo programme for its $105 billion plan to return to the Moon by 2018. The companies behind the space elevator say they will be able to lift material into orbit for as little as $400 a pound, compared with $20,000 a pound using existing rockets.