In theory, is the type of machine below possible, or is it a form of perpetual motion machine?
You create a hollow tube, full of air, that stretches from the Ocean surface to the bottom of the ocean, and line it with turbines. You then drop a heavy but bouyant weight down the tube, expel it somehow at the bottom, and allow buoyancy (a.k.a. gravity) to carry it back to the surface. You then drop it over and over in order to generate electricity.
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