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CEO of Algae-to-Oil Technology Company, OriginOil, Inc. (OTCBB: OOIL) Reminds Investors of the Bright Future for Advanced Biofuels
| Source: RenewableEnergyStocks.com
POINT ROBERTS, WA--(Marketwire - November 14, 2008) - www.RenewableEnergyStocks.com, a leading
investor news and research portal for the renewable energy sector within
Investorideas.com, announces new featured showcase company OriginOil, Inc.
(OTCBB : OOIL ), an algae-to-oil technology company.
The company's technology is an advanced algae growth system that can grow
multiple layers of algae biomass around-the-clock with daily harvests.
According to the company, growing and harvesting algae on a high volume
production basis is the key breakthrough that will allow algae to compete
with petroleum.
The US Department of Energy, Energy Efficiency and Renewable Energy
reports, "Algal biofuels are generating considerable interest around the
world. They may represent a sustainable pathway for helping to meet the
U.S. biofuel production targets set by the Energy Independence and Security
Act of 2007." http://www1.eere.energy.gov/biomass/pdfs/algalbiofuels.pdf
Petroleum is a depleting resource. Future sources of oil, the cost of
producing it and the price consumers will have to pay for it are extremely
uncertain. According to a recent report from the International Energy
Agency, "there are growing fears the simultaneous plunge in oil prices and
a pullback in spending on exploration and production will result in another
massive energy price spike."
One week earlier, Riggs Eckelberry, President & CEO of OriginOil, Inc. had
made the same case. In his presentation to California lawmakers, he noted,
"Energy demand is embedded and oil demand will return. If oil investment is
neglected now, there will be new scarcity, driving prices much higher."
"Climate change and CO2 emissions are also driving trends for renewable
energy. These factors, as well as future oil shortages, have created
excitement in the algae sector, in spite of the recent decline in oil
prices," Mr. Eckelberry went on to state.
"Current trends in energy supply and consumption are patently unsustainable
-- environmentally, economically and socially -- they can and must be
altered," said Nobuo Tanaka, Executive Director of the International Energy
Agency. "Rising imports of oil and gas into OECD regions and developing
Asia, together with the growing concentration of production in a small
number of countries, would increase our susceptibility to supply
disruptions and sharp price hikes. At the same time, greenhouse-gas
emissions would be driven up inexorably, putting the world on track for an
eventual global temperature increase of up to 6°C."
Company Showcase Profile page: http://www.investorideas.com/co/ooil/
About OriginOil, Inc: (OTCBB : OOIL )
OriginOil, Inc. is developing a breakthrough technology that will transform
algae, the most promising source of renewable oil, into a true competitor
to petroleum. Much of the world's oil and gas is made up of ancient algae
deposits. Today, our technology will produce "new oil" from algae, through
a cost-effective, high-speed manufacturing process. This endless supply of
new oil can be used for many products such as diesel, gasoline, jet fuel,
plastics and solvents without the global warming effects of petroleum.
Other oil producing feedstock such as corn and sugarcane often destroy
vital farmlands and rainforests, disrupt global food supplies and create
new environmental problems. Our unique technology, based on algae, is
targeted at fundamentally changing our source of oil without disrupting the
environment or food supplies. www.originoil.com.
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