A US company, Solazyme, recently signed a contract for 20 million gallons of oil to be used in insulating transformers. That's the equivalent of about 2 000 barrels of oil / day, or 2% of Canada's oil sands production.
2% is not a lot by any standard.
However, this is algae we're talking about. Algae companies are now signing commercial contracts for oil. Depending on the variables used, algal based crude oil can be produced today at around $90 / barrel, with Solazyme setting targets of $60-80 / barrel.
With that, all I have to say is "bloom algae, bloom!"
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