When oil hit $110/bbl, President Obama offered us algae-based biofuels, killed the Keystone, and sicced the EPA on shale operators.
When President Obama said "algae," God listened.
The US Air Force could always turn to algae-based jet fuel.
The largest government fuels award in 2012 went to yeast-based biofuel company Allylix to find a viable alternate jet fuel. Evolva acquired Allylix in 2014. Evolva is based in Switzerland, best known for artificial sweetners, apparently.
Back in 2012 with Americans irate about the high price of gasoline President Obama said "I'm going to keep doing everything I can to help you save money on gas right now and in the future. I've already killed the Keystone and I've sicced the EPA on the shale operators." Okay, he only said some of that.
The big story in 2012 was President Obama killing the Keystone and advocating algae-based biofuels.
In December, 2011, it was reported that the US Navy was buying biofuel for $149/gallon; contracts with Solazyme. In 2016, Solazyme "ditches biofuels" and according to Fortune:
Solazyme, now renamed as TerraVia, says it will no longer focus on its fuels and its industrial businesses, and instead will double down on selling its algae oil to the food and personal care industries, for use in products like cooking oil, protein powders and face lotion.
Along with the new focus, the company has announced a $200 million supply deal to sell algae oil to Unilever for personal care products, and new financing of $28 million from a handful of food-focused investors, like founder and former CEO of Popchips Keith Belling.As recently as May 7, 2014:
The US Air Force spent $150/gallon of "green" aviation fuel. One can only assume the general officer who approved this boondoggle will a) be promoted; and, b) be given the Medal of Honor Medal by President Obama. I can only say I am glad I am no longer part of this one-esteemed military branch. FreeBeacon is reporting:
The Department of Defense (DOD) paid $150 per gallon for alternative jet fuel made from algae, more than 64 times the current market price for standard carbon-based fuels, according to a report released on Wednesday.
In 2013, even the Los Angeles Times seemed concerned about the US Navy spending $26/gallon biofuel. The article did not mention that President Obama had just directed all government agencies to "get" 20% of their energy needs from renewable energy by 2020. And since MuskMelon was not yet in the news, the US Navy turned to algae. Besides, wind power and sails went out of style when the whaling industry died.The Government Accountability Office (GAO) noted in its report that a Pentagon official reported paying “about $150 per gallon for 1,500 gallons of alternative jet fuel derived from algal oil.”
Okay, enough of this. Out an about for better things.
In April, 2014, some investors were looking at algae-based drilling fluids.