Algae holds a lot of potential as a biofuel. As petroleum prices tumble making ethanol less competitive for the present, algae holds a double potential because it can be used to reduce carbon emissions from conventional power plants. While I'm not a fan of the proponents of global warming, there is no good reason to throw away perfectly good CO2 when it can be used to make transportation fuels.
Isaac Berzin has a prototype system in place at MIT's power plant. He's not alone.
Here's anothe researcher:
Algae hold the potential to far out-produce corn as a source of biofuel.
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