Competitive algal biofuels 10 years away, says study

BrighterEnergy.org
November 5, 2010 By James Cartledge

Algal oil production could reach several billion gallons a year, but with price estimates at $240 per barrel, researchers say a decade of development is needed .

The development of cost-competitive algal biofuels is still 10 years away, according to a new report from the Energy Biosciences Institute.

The BP-funded institute at the University of California, Berkeley, has carried out analysis of the fledgling sector that suggested that even with a favorable assumption of progress, the full commercialization of algal oil production “will be neither quick, nor plentiful”.

In a hypothetical example, the EBI research suggested a 1,000 acre algal oil production system in southern California using current technology could expect to produce oil with a break-even price of $240 per barrel.

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