Future Shock: A New Paradigm In Algal Biofuels Technologies
Will Thurmond (Biofuels Digest) In 1973 the world experienced the first major supply shock from OPEC, leading to petrol shortages, and a sustained period of economic stagnation, and rampant inflation. As a response, US President Carter established the National Renewable Energy Laboratory (NREL) in an endeavor to explore pathways to energy independence via solar power and biofuels. … Fast forward to October 2007, when the price of crude oil rose from $50 US per barrel earlier in the year to $85 per barrel.
…In a short period of time, the arrival of $148 petroleum crude in summer 2008 hastened the need to develop advanced biofuels from 3rd generation, non-food based biofuels. By March 2009, the Obama Adminstration had committed nearly $600 million to advanced biofuels projects.
…Can the world afford to wait for next petroleum shock to arrive? Will we be ready this time?
As we enter a new decade in 2010, how will the world meet the increasing demands of the Emerging Markets of China, India, Brazil and the US for biomass-petroleum integration for advanced biofuels, biochems, and biopolymers? READ MORE
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