A new survey of the algae industry conducted by the Algae Biomass Organization (ABO) shows algae companies are increasing production in 2012, they expect to be price-competitive with petroleum fuels by 2020, and that stable and effective Federal policy would accelerate production and job creation.
The survey of more than 380 algae industry contacts shows a rapidly growing sector: 65 percent of algae producers said they plan to expand capacity in 2012 as they work to provide the U.S with new sources of sustainable, domestically produced fuels.
Respondents are optimistic that algae biofuels will be commercially available and competitive with fossil fuels by 2020, with 90 percent believing that it is at least somewhat likely, and nearly 70 percent believing it is moderately to extremely likely. Nearly 20 percent believe fuel will be $1.50 per gallon or lower while nearly 50 percent believe it will be less than $3.00 per gallon by 2020.