Algae can Reduce Reliance on Foreign Oil?
Pike Research, a market research and consulting firm, conservatively predicts that by 2020 algae biofuel production will reach 61 million gallons per year, command a market value of $1.3 billion, and sport an annual growth rate of 72 percent. With oil prices reaching $105 a barrel for the first time since 2008, the biofuel industry is looking more attractive every day. In smaller developing countries, where oil demand is low, restless legs and emission standards are poor, algae biofuel has the potential to significantly reduce reliance on foreign oil.
For more on the future of algae biofuels
Leave a Reply
| | posted by srividhya
March 16th, 2011 at 5:29 pm
my problem with biofuels is whaenthay break down that is the problem i am haveing after running biofuel i donot see the saveings i am now haveing to use pesticdes in the fuel at a cost of 80 dollars a gallon just so my engine will run with out it the filters plug up all most imedetley and the fuel system has ben cleaned several times yet the algae still keeps growing in the tanks