Forbes: Carbon to Drive Algae Investment
From: Riggs Eckelberry
Los Angeles, March 11, 2011
Forbes agrees: it’s about the carbon
We discussed this on today’s MoneyTV show (watch it here).
Yesterday, Forbes reporter Christian Wolan repeated our position that “…In the short term, the growth of the industry will come from governments and companies seeking to reduce their environmental impact through carbon collection.”
“Fossil fuels aren’t going away, and we have to do something because they’re gonna be used no matter what,” said Riggs Eckelberry, president and CEO of OriginOil. Referring to the algae biofuel programs of ExxonMobile, BP, Chevron, and Valero, Eckelberry said, “This final factor alone is driving the funding of algae projects, as the fossil energy industry looks for ways to clean up their emissions.”
That carbon is driving algae investment is increasingly being recognized in mainstream media.
Energy bull market: renewables will gain the most
In Energy & Capital today (entertainingly titled “When You’ll Beg for $4.00 Gas”), a chart of the next 25 years of global oil consumption.
In this chart, demand from developed countries remains largely flat, while developing countries explode, creating a long-term world energy bull market.
And of course… “Renewables grow the most — 112% — from 3.46 trillion kilowatthours today to 7.34 trillion in 2035.”
OriginOil makes a shortlist
We learned yesterday that we are on the shortlist for the Best Algae Innovation Award at the upcoming World Biofuels Markets 2011, “Europe’s largest biofuels congress and exhibition”, being held this year in Rotterdam.
We are in heavy duty company, and we are honored indeed.
Enjoy your weekend!
Riggs and team
President & CEO
OriginOil, Inc. (OOIL)
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