Mar 03

Breakthrough? Scientists said they can produce a fuel that runs jet engines using the same ingredients that make grass grow - sunlight, water and carbon dioxide
Breakthrough? Scientists said they can produce a fuel that runs jet engines using the same ingredients that make grass grow – sunlight, water and carbon dioxide

Scientists have genetically engineered an organism that secretes diesel fuel wherever there is sunlight, water and carbon dioxide.

Biotechnology company Joule Unlimited claims it can produce diesel fuel and ethanol on demand at unprecedented rates.

Researchers at the firm, based in Cambridge, Massachusetts, said they can produce the fuel that runs jet engines using the same ingredients that make grass grow.

They also claim to be able to make it in facilities both large and small and at costs comparable to the cheapest fossil fuels.

Joule’s website describes the breakthrough as ‘energy independence’, although many remain sceptical.

Chief executive Bill Sims said: ‘We make some lofty claims, all of which we believe, all which we’ve validated, all of which we’ve shown to investors.

‘If we’re half-right, this revolutionises the world’s largest industry, which is the oil and gas industry.

‘And if we’re right, there’s no reason why this technology can’t change the world.’

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Apr 15

NEW YORK (AP) — Crude oil prices rose to within a penny of $114 a barrel Tuesday, setting a new record as concerns mounted about global supplies. U.S. retail gasoline and diesel prices also struck new highs.Traders honed in on a report by the International Energy Agency that said Russian oil production dropped this year for the first time in a decade. The report raised concerns about whether the key oil-producing nation will have enough supply to help feed growing global demand.

“In an emotionally driven market like we’ve got now, it just doesn’t take much in the way of a headline to prompt a psychological response,” said Jim Ritterbusch, president of Ritterbusch & Associates in Galena, Ill. Continue reading »

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