Thursday, January 24, 2008

Some Good News!

The economics blogs have been full of bad news the last week or so. So I think I'll lighten the mood a bit with this piece from wired:

A biofuel startup in Illinois can make ethanol from just about anything organic for less than $1 per gallon, and it wouldn't interfere with food supplies, company officials said.

Coskata, which is backed by General Motors and other investors, uses bacteria to convert almost any organic material, from corn husks (but not the corn itself) to municipal trash, into ethanol.

"It's not five years away, it's not 10 years away. It's affordable, and it's now," said Wes Bolsen, the company's vice president of business development.

Get the full version here

--You hear a lot of wishful thinking about alternative energy, but the folks at wired seem to know their stuff. The solution to global warming will most likely come from the private sector, but that doesn't mean that there is nothing the government can do. A carbon tax would increase the innovation in alternative fuels as well as making them more feasible.