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The oil industry giants are embracing alternative technologies -- including biofuels, geothermal and solar. Right now, renewable sources provide only a tiny fraction of the profits they derive from oil and gas, but they'll have a real impact on the revenues of majors like BP, Exxon Mobil and Chevron in the not-so-distant future.
Biofuels company Solazyme owns a unique process when it comes to converting algae into a fuel could replace the gas in your car -- a method that could be used to create oil on an extremely large scale and at an extremely low cost. The company has just announced it's going public: You might want to get in on the action.
Gevo, part of Richard Branson's Virgin Group companies, went public this week on Nasdaq. The firm sold 7.15 million shares at $15 each, which was at the high end of its estimated range of $13 to $15. On its first day of trading, the stock shot up about 16%.
Could caffeinated alcoholic drinks, which the FDA deemed unsafe for human consumption in November, turn out to be good for cars? A Virginia-based ethanol recycler, MXI Environmental Services, is turning those soon-to-be-banned beverages into fuel.
Bad weather that is reducing crops yields, increasing global demand and a greater push for bio-fuels are all playing havoc with corn prices, which affect costs throughout the economy.
The BP disaster unleashed a gusher of a different sort – complaints from donors to The Nature Conservancy who are upset that one of the world's largest environmental organizations accepts big money from BP. But it's far from the only green cause to get cash from the oil giant. Small protests...
Toyota Motor's recent $50 million investment in electric-car upstart Tesla Motors is already paying dividends. Tesla reportedly will ship two prototypes, based on Toyota's RAV4 sport utility vehicle and Lexus RX crossover, to the Japanese automaker later this month.
Toyota, maker of the popular Prius hybrid, is preparing to move into other alternative-fuel technologies such as hydrogen fuel-cells and biofuels. Its recent large investment in Tesla Motors is just the first such partnership the world's largest automaker is pursuing.
Global clean-tech venture investments rose 43% to $2 billion in the second quarter. Solar and biofuel startups garnered the biggest funding, while the IPO market for clean-tech was much hotter in China than the U.S.
As oil continues to gush into the Gulf of Mexico from BP's damaged well, the federal government is pouring a bit more money into alternative energy sources with a grant to groups working on turning algae into a commercially viable fuel.

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