Exxon Explores Algae Biofuels As Alternative Energy:

Exxon Mobil Corp is testing the commercial viability of algae biofuel as an alternative energy source to supplement oil and natural gas, a senior executive said on Monday. “We are testing the hypothesis that algae biofuels could become commercially viable and achieve sufficient scale to make meaningful contribution to the future energy mix,” he told the Asia Oil and Gas Conference in the Malaysian capital. Sunlight and carbon dioxide used to grow the algae could also mitigate the effect of greenhouse gases, while algae has the potential to produce large volumes of oils that can be processed in existing refineries to make fuels compatible with existing transportation technology and infrastructure. Story continues: