An anonymous reader writes to tell us that several start up companies include one from MIT are looking at using (both natural and engineered) algae as source of bio-fuel. Since algae grows quickly and absorbs green house gases. From the article "Soybeans can give you 50 to 60 gallons of oil an acre compared to 75 to 125 gallons for canola, but algae is almost limitless because it grows so fast, so potentially you could get 10,000 gallons per acre."
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