A few weeks ago it was algae set inside canisters that could possibly quell the world's addiction to oil, and most recently a San Francisco-based genetic engineering company called LS9 Inc. claims they can do the same using not green algae, but insect excrement.
According to a report by The Washington Post, LS9 Inc. has genetically engineered industrial microbes that efficiently convert agricultural waste in the form of wood chips and wheat strands into what the company calls Renewable Petroleum. Microbes begin as non-pathogenic strains of E. Coli and are made to metabolize the waste into LS9 DesignerBiofuels.
The resulting hydrocarbon-based fuels and chemicals are said to have a higher energetic content that traditional ethanol or butanol and have fuel properties equal to that of gasoline, diesel and jet fuel. Such "designer" crude oil could be employed to power almost anything with an internal combustion engine.
According to estimates cited by The Washington Post, company officials have stated that if produced on a mass scale, a gallon of their genetically engineered gasoline could retail for $1.25.
Although there have been great strides in the development of such technology, much research still remains regarding how the process can be implemented on a large enough scale to significantly reduce our nation's (and world's) dependency on oil. It is estimated that a production facility the size of the city of Chicago would be needed in order to produce enough micro-derived oil to replace the roughly 143 million barrels per week the United States currently consumes. Still, with gasoline prices well over $4.00 per gallon at many U.S. filling stations, any progress could be considered good.
Source: The Washington Post and LS9 Inc.