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Article Source: Science News, Articles and Information | Scientific AmericanOil giant Exxon Mobil Corp. is making a major jump into renewable energy with a $600 million investment in algae-based biofuels.
Exxon is joining a biotech company, Synthetic Genomics Inc., to research and develop next-generation biofuels produced from sunlight, water and waste carbon dioxide by photosynthetic pond scum.
Exxon Mobil launched the partnership after years of being publicly opposed to investing in renewable energy. Privately, though, Jacobs said the company has been investigating the sector for years.
Why the dichotomy?
#1 - Tue Jul 14, 2009 4:17 PM EDTThis new policy may have something to do with
pressure from shareholders at their last meeting in May .
http://video.msn.com/video.aspx?mkt=en-us&brand=msnbc&vid=aec9e153-b101-4ed3-8c4b-8ac1d0a072c2
Also it is a way to hedge their bets against future decreases in
oil supply .
Will this 800 lb. gorilla dominate the algae business ?
The technology is far from developed yet .
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