GE Microbes Make Ersatz Crude Oil From Many Sources

polymath69 writes "According to The Times Online, genetically modified microbes have been developed capable of turning surplus material such as wood chips, sugarcane, or others, not into ethanol, but into a substance which could substitute directly for crude oil. They claim it could be sold for about $50/bbl, and the production process would be carbon negative."

Comments

Why talk

[afidel]

If they are right then they are instant Billionaires, if the process really worked they would be commercializing it and completely destabilizing OPEC. I'll believe it when I see it and the world will be rejoicing.

Re:Why talk

[Hognoxious]

There is no benefit for the oil companies to develop and market an alternative technology until all the oil is gone.

Holy false dichotomy, Batman! There's no reason they can't sell both.

If an alternative technology becomes commercially viable the remaining oil reserves become nearly worthless.

Depends how close to crude the substitute is. It may be OK for fuel, but not useless as a feedstock for plastic production. Most oil companies have considerable downstream assets too.

Re:Great

[BarneyL]

Indeed, wouldn't it be terrible if everyone stopped sending their wood chips and grass cuttings to the starving in the third world and started turning them into oil instead.

Re:Everlasting Lightbulb?

[oodaloop]

Not likely. Oil companies need crude. International oil companies only hold about 8% of worls reserves; they are captial rich and resource poor, being limited mostly by poor host country infrastructure, quotas, and production capacities. If this new crude is available at $50/barrel, why wouldn't they buy it? They've been diversifying for years, getting into solar, natural gas, wind, and other industries.