Quote:
Originally Posted by tigermtb
From what I understand there was a government subsidy program setup in the 70's due to the oil embargo to start this algae thing.. but as soon as oil prices went back to normal the program was cut.
The low price of oil (again) threatens all these companies who are trying to reduce the dependance on oil. Its unfortunate.
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ya this is quite true, it amazing how quickly people will forget the highs of energy prices and think the worst is over. it'll be interesting to see how picken's plan works out he is a very smart individual but it will take a lot of people to rally behind his ideas. the problem is people have a tendency to plan around the short term and not look beyond what is convenient at the time.
i really dont see how the supply and demand imbalance will work itself out in the next 5-10 years when companies are cutting back operations again now with relatively low energy costs. it is only a matter of time before energy demands resume when the world economy come out of this recession.