Canadian Guy

Exxon's Biofuel Bet

On Jul 20 08:01 AM Lara Crigger wrote:

> Yes, it costs $33/gallon to produce algae fuel. But what *was* a
> typo was the estimated cost of producing Saudi crude: That should
> be $2/BARREL, not $2/gallon.That just goes to show just how wide
> the gulf is between these two production costs.

Over a year ago I read that the U.S. Defense Department estimated that the American taxpayer spent over $100 a barrel for all the military costs to guard the world's oil shipping lanes, oil loading and off-loading sites and some refineries, pipe lines and oil fields, especially in the middle east and north Africa. This is one of the reasons that the U.S. military is very keen on promoting biofuel develop in the U.S. Energy independence for the U.S. and fewer reasons to get stuck in wars far from its shores.