Friday, July 17, 2009

Oil Companies Going Green?

Biofuel is the next big thing. The problem is that today's biofuels (ethanol, soybean biodiesel) come with many socio-economic externalities, or harmful side effects.

With fossil fuel consumption having largely contributed to global warming, and biofuel consumption having similar bad side effects, can mankind ever go green? YES.

Teaming up with the likes of Craig Venter, ExxonMobil, among others, has invested extensively into biofuel development - using algae.

Algae, unlike other currently existing biofuels, does not occupy arable land, is extremely cheap, readily available, and consumes carbon dioxide in the process.

To understand the process, check out this short clip.

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