That old dude on the recumbent has as much as 30% less wind resistance to fight as you do. That is a hell of an advantage. The old dude on the recumbent doesn't need a motor to smoke your ass.
From Wiki A recumbent holds the world speed record for a bicycle,[1] and they were banned from racing under the Union Cycliste Internationale (UCI) in 1934,[2] and now race under the banner of the Human Powered Vehicle Association (HPVA).
Scotty