The Los Angeles Times reports that Sapphire Energy has demonstrated a process to use algae, sunlight, carbon dioxide and non-potable water to make "green crude." The company claims that the “green crude” is chemically equivalent to the light, sweet crude oil that has been fetching more than $130 a barrel in New York futures trading.
Chief Executive Jason Pyle said that the company's green crude could be processed in existing oil refineries and that the resulting fuels could power existing cars and trucks as petroleum-based gasoline and diesel do now.
