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U.S. markets recover from steep losses
IRVING, Texas, July 14 (UPI) -- Oil giant Exxon Mobil, which once disdained alternative energy exploration, announced it will explore biofuels development.
Exxon, based in Irving, Texas, said Tuesday it plans to invest $600 million in producing liquid transportation fuels from algae in partnership with biotechnology company Synthetic Genomics, The New York Times reported.
The agreement could address what environmentalists say is a critical gap in Exxon's energy strategy, which critics say has been dismissive of global warming and renewable fuels, the Times said.
"We literally looked at every option we could think of, with several key parameters in mind," said Emil Jacobs, Exxon's vice president for research and development in the company's research and engineering unit. "Scale was the first. For transportation fuels, if you can't see whether you can scale a technology up, then you have to question whether you need to be involved at all."
The company spent several years exploring various fuel alternatives, Jacobs said, noting any large-scale commercial plants to produce algae-based fuels would be between five to 10 years off.
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JAKARTA, May 24 (UPI) --
Indonesia needs to address loopholes in its moratorium on deforestation, Greenpeace said.
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SEATTLE, May 24 (UPI) --
The flight decks and avionics of the U.S. and NATO Airborne Warning and Control System aircraft fleet will be modernized under a $368 million Boeing contract.
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First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
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It is a whole new ball of wax in Europe these days.
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