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I am personally an algae researcher, looking into the fuel issue now. Working with a couple companies from the academic side and trying to integrate algae growth with a couple other processes. The figure of 100,000 gallons per acre per year is BS. Either a typo or the company that said it is looking too hard for venture capital. The 10-15K is still a little higher than anybody has been able to do yet, but I think that we will get there eventually maybe more.
There are a number of problems that are slowing the process down, one is harvesting the algae, the other is extraction. But there are so many people hitting this hard, the egg will crack.
As for corn ethanol, it is not going to happen, cellulostic ethanol production is where the ethanol bug is going to go.
Food based crops for fuel production is only sustainable on a small scale...period.
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