Santa Barbara, CA - February 3, 2011 - Carbon Sciences, Inc. (CABN), As a recent UC Davis study indicates, the global oil supply is set to run dry 90 years before replacements, such as renewable energy, are ready. Such measurements are helpful in driving development and establishing market-ready deadlines, but perhaps their largest contribution is the conversation they spark about how to address this problem.
The biggest obstacle to replacing petroleum is that alternative technologies not only have severe limitations, but are decades away from being affordable without substantial government subsidies and require expensive infrastructure changes. While waiting for renewables to mature, a technology that bridges our current and future energy consumption habits is needed to wean us from the fossil fuels we consume today.
Consider the good and bad aspects of today’s energy challenges. First, the bad news. Each and every day the United States consumes 20 million barrels of crude oil. We produce 7 million barrels leaving a delta of 13 million barrels of oil that we need to purchase from foreign sources. At current levels of $90 a barrel, that adds up to nearly $1.2B a day that we send outside the country to purchase oil, or $427B a year. That represents 80 percent of our annual trade deficit.
Now for some good news. There are technologies being developed that could produce copious amounts of gasoline and other transportation fuels by using other fossil fuels such as natural gas. The United States has more natural gas than any other country in the world. Known estimated reserves are 4,000 trillion cubic feet. That is the equivalent of 700 billion barrels of crude oil, or three times the current amount in Saudi Arabia. A colorless, odorless and tasteless fuel, natural gas has growing support from oil industry heavyweights including T. Boone Pikens who is campaigning to remove natural gas as a generation fuel and move it into the transportation fuel sector.
At Carbon Sciences we are is working on a technology that combines methane from natural gas with carbon dioxide (CO2) to create a syn gas or fuel precursor that can then be converted into gasoline. This is a drop-in replacement for the crude oil-based gasoline we currently use, allowing us to utilize the current infrastructure, supply chain and vehicles, an enormous advantage over other technologies. The consumption of large amounts of CO2 in the process that would otherwise be released into the atmosphere is an additional benefit.
The methane used in Carbon Sciences process can be sourced from traditional natural gas fields, or other sources including landfills, algae and biomass, coal-fired plants, flare gas and livestock gas.
The world is not facing an energy crisis, it is facing a fuel crisis. We are not running out of electricity, we are running out of cheap, easy crude oil. The utilization of domestic natural gas and greenhouse gases to make transportation fuels will benefit the environment and the economy, create well-paying jobs and achieve the energy independence that we have longed for and talked about for too long.
http://www.corpmagazine.com/technology/green/itemid/2292/making-gasoline-without-crude-oil
Byron H. Elton brings a synthesis of business acumen and personal commitment to environmental ideals in his current role as president and chief operating officer of Carbon Sciences. A veteran media and marketing executive, Elton has a proven track record of pioneering new business development strategies and building top-flight marketing teams. Reach him at byron@carbonsciences.com.
About Carbon Sciences, Inc.
Carbon Sciences Inc. is developing a breakthrough technology to recycle carbon dioxide (CO2) emissions into the basic fuel building blocks required to produce gasoline, diesel fuel, jet fuel and other fuels. Innovating at the intersection of chemical engineering and bio-engineering disciplines, we are developing a highly scalable biocatalytic process to meet the fuel needs of the world. Our solution to energy and climate challenges is to enable a sustainable world of fuel consumption and climate stability by recycling CO2 into fuel. For example, Carbon Sciences' breakthrough technology can be used to recycle CO2 emitted from fossil fuel power plants into gasoline to run cars and jet fuel to fly aircraft. To learn more about the Company, please visit our website at http://www.carbonsciences.com.
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