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Politics : The Exxon Free Environmental Thread

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To: Sam who wrote (3198)	1/18/2009 9:18:29 PM
From: Ron	Read Replies (1) of 49098

The Pond Scum Solution In one of the most memorable moments in cinema, a middle-aged businessman whispers to a young and perplexed Dustin Hoffman one word of advice: “Plastics.” In a 21st-century remake, the word might one day be algae. Plastic was the new gold when The Graduate was filmed in the 1960s. In the summer of 2008, as oil prices soared to frightening levels, dozens of little companies managed to bring in a sudden gusher of funding for a technology that has long been relegated to the fringe of alternative energy: turning the green scum that grows in ponds and waterways into fuel. In just six months, investors pledged more than $1 billion to 30 or 40 algae-fuel companies, many of them new. Now with oil prices less than half of what they were in the summer, the fledgling algae industry isn’t likely to see more big investments anytime soon, and the credit squeeze will also hamper development. But the companies hope they’ve raised enough cash to move the technology to the next step and prove that the watery weed can be a viable alternative to petroleum. more-- portfolio.com

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