The Pacific Rim Summit provides an opportunity for startup companies to present the state of their research and development, share their experiences and network with one another and with other biotechnology companies." a world oil market trade amounting to trillions of dollars yearly, algal biofuels companies have a long way to go to compete with the well established liquid fuels industry. The challenge is immense, but worth rising to.
The promise of ultimately replacing a large proportion of petroleum fuels with algal biofuels is seen as a threat by certain economic interests. Any corporation that is heavily invested in biodiesel from soy, maize, rape, palm, or other conventional oil crop must feel significant threat from the long term promise of microbial energy -- including algal fuels. Promoters of electric vehicles are likewise worried that an abundant liquid fuel seen as "clean and green" would slow the momentum toward an "all electric" highway fleet.
Last of all, promoters of environmental doom -- the dif.orgiast believers in catastrophic climate doom and peak oil doom -- must feel enormous threat from any source of energy that might allow modern societies to continue a life of prosperous consumption.
Still, the economic argument of a potential multi-trillion dollar market is inescapable. Enemies of algal fuels will use every trick in the book to stop the perceived threat. After they lose the fight, they will be forgotten.
