Well, the chances of it existing somewhere out there are high, but it will have to be very far away, farther away than the technology of today can take us. If there was life just somewhat close by, we would've picked up radio waves by now, wouldn't we? Of course, there are also the possibilities that another civilization in our vicinity may not be as advanced as us, or that a given civilization ended up destroying itself, just like we're about to.
EDIT: Furthermore, I agree very much with Zevil.
EDIT: Furthermore, I agree very much with Zevil.
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