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Exxon walks the Green talk

According to Michael Dolan, senior vice president of Exxon, “Algae-based fuels could help meet the world’s growing demand for transportation fuel while reducing greenhouse gas emissions.”

They’re not the only one to think this a good idea though. One of the more prominent members already in the game is none other than Royal Dutch Shell Plc, Europe’s largest oil company by market value. But as things stand now, it’s more of a race, as all parties involved agree that any marketable results won’t come around for some time.

The reasons why such a solution would be preferable to oil-based fuel are obvious of course (infinite resource since it can be grown, less expensive since it isn’t finite, and cleaner), but it’s got an edge on other biofuels as well, since supply could match demand without infringing on land for other crops.

While Exxon is pledging as far as into the billions if necessary, we’ve seen where other biofuels have taken us, and it isn’t very far. Whether or not algae can put the company, investors and consumers in general on the road to success is a question we won’t be able to answer for a while.

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