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Blogs under tag Japan And Algae To Oil

Japan rejoins the algae race ! Posted by Shankar on Sat June 19 2010 03:39:33 AM

Strangely, Japan had a # 132 m project in the 90s ie around the end time of ASP /NREL which wound up in 96.

Japans project mentioned above closed for the same reason why NRELs project was closed. Crude Oil price fell.
Below $ 10 per barrel.

NOW, Japan is restarting research in algae to find oil.
I think the race is truly on.

Japan abandoned a $132 million algae project in the 1990s, when oil prices dropped below $10 a barrel and climate change took a back seat to promoting economic growth during the country?s ?Lost Decade.?

Now oil majors led by Exxon Mobil Corp. are turning to the experimental technology as pressure grows to find less-polluting alternatives to crude oil.

?A tug of war may begin among industrial nations for a new way of making algae-derived fuel in the years ahead,? Hidetoshi Shioda, a senior energy analyst at Mizuho Securities Co. in Tokyo, said before the announcement. ?Japan may need strong political leadership to compete for algae-oil hegemony.?

At least 75 developers globally are studying algae, which has the potential to generate more energy per hectare than any other crop used for making fuel, according to a Bloomberg New Energy Finance report in February.

The technology has attracted the U.S. Department of Energy and companies including Exxon Mobil Corp., which plans to spend as much as $600 million on research over five years.