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Ethanol From Waste Straw
phcrack writes "The CBC is reporting that 'Iogen Corporation of Ottawa has developed enzymes to break down waste straw and wood chips into ethanol on a commercial scale.' Apparently traditional ethanol from food crops like corn used at least as much energy to create as they released when burned. It's nice to see that big oil companies are helping fund a project like this too. It's very rare today to hear of a major company throwing money at a research project since the '80s."
The thing is, oil companies at this point have to know that as soon as people can find a reasonable fuel source to power their cars, they're going to jump on it. It's in the best interest of the oil companies to start researching ways that they will continue to make money.