I did not see a thread on this, if there is, I am sorry. Rest of the story here.
Big oil companies are betting that algae—that's right, pond scum—is a viable source of renewable energy, and they're joining academics, start-ups and the U.S. government in committing resources to studying its potential.
Photo by Fred LaSenna
Unlike first generation biofuels, algae has the potential to produce thousands of gallons of oil per acre and does not compete with agriculture for cropland. And because algae are photosynthetic organisms, they feed on carbon dioxide, thus removing some C02 from the air.
Put together, it's an attractive combination.