Make something people want to buy at a price they can afford. Hardly a revolutionary business strategy, but one that the American biofuels industry has, to date, eschewed. Now a new wave of companies think that they have the technology to change the game and make unsubsi-dised profits. If they can do so reliably, and on a large scale, biofuels may have a lot more success in freeing the world from fossil fuels than they have had until now. The original 1970s appeal of biofuels was the opportunity to stick up a finger or two, depending on the local bodily idiom, to the oil sheikhs. Over time, the opportunity to fight global warming added to the original energy-security appeal.
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