ABO says algal biofuels will reach oil parity price by 2017

In Minnesota, the Algal Biomass Organization says that algae biofuels will be competitive with oil within seven years. Currently production costs are between $140 and $900 per barrel. Legislation under consideration in Congress would extend the $1.01 per gallon production credit given to cellulosic biofuel producers to their algal cousins.

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