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A global pull-back from bank lending may dent the commercialisation of biofuel technologies to replace conventional gasoline, said the chief executive of US cellulosic ethanol firm BlueFire Ethanol.
A credit crisis which claimed more bank victims on Monday has raised project finance costs and made ambitious targets to replace replace fossil fuels with renewable energy sources look less achievable.
US Democratic presidential candidate Barack Obama on Friday said that he may have to scale back his US energy investment plans, if elected, in order to help pay for a planned US$700 billion financial market bailout.
Obama did not detail which aspect of his plans may be trimmed. He has previously promised to invest US$150 billion over the next decade to develop affordable, renewable energy sources and clean coal, touting these as a long-term energy solution rather than new, off-shore oil drilling.
Originally posted by pause4thought
post by ThichHeaded
Unfortunately when people in the UK tried this the PTB put a quick stop to it. People were buying the used fry grease (called cooking fat in the UK) from fish & chip shops, but not paying 'fuel tax' to the govt. & they said it was illegal! (The police became suspicious when they noticed car were driving past smelling like fish & chips).
Mind you, if the shops were to give the used fat away, as you suggest, I suppose there might be some mileage in it, so to speak, (although it's probably not advisable on cars that are in good condition, for fear of damaging the engine).