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Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.

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DuPont Looking to Displace Fossil Fuels as Building Blocks of Chemicals
Hydrocarbon AlternativesNestled away in a small room on DuPont's 150-acre research center in Wilmington, Del., robotic arms fill tiny tubes with gelatinous material that was extracted from corn and soybean plants. Other metallic arms will soon dip and measure and deconstruct each sample, spewing forth a list of its attributes and traits.

Only a fistful — maybe one of every 50 — will move on to the fermentation lab, a few buildings away. There, researchers will see how the samples react to different mixtures of air, glucose and microbes. Down the hall, other researchers will tinker with the microbes themselves.


All of them are chasing the same holy grail: bio-based substances that can replace oil and gas as building blocks for chemicals. "We figure out what works in theory, and then we see what works in practice," Alexander D. Kopatsis, a research associate, said.

E. I. du Pont de Nemours & Company, unlike most chemical companies, has moved the quest for bio-based raw materials off the wish list and onto the to-do agenda. The company has allocated nearly 10 percent of its $1.3 billion research budget to extracting ingredients from carbohydrates — things that grow and can be infinitely replaced — rather than from hydrocarbons, which are mined or drilled and readily depleted.

NY Times

Posted on Tuesday, February 28 @ 08:07:06 PST by Leanan
 
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