Australia: Algae Biofuel Alternative to Crude Oil

According to a recent study, algae ponds the size of Sydney could meet the entire demand of crude oil in Australia. Not only is it a feasible biofuel, it would generate a total economic stimulus of AUS$0.77 for every dollar invested compared to just AUS$0.13 cents invested in crude oil. Further, it could satisfy the demand for crude oil and would be a sustainable alternative to Australia’s crude oil consumption, 82% of which is imported.