Chevron’s Search for Alternative Fuels Stumps Best Minds
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Chevron Corp.’s attempts to turn plants into alternative fuels for profitable, large-scale production have failed.
The second-largest U.S. oil company by market value spent “significant sums” and assigned some of its best scientists to evaluate more than 100 kinds of feedstock and 50 techniques for converting them into fuels without success, Chevron Chairman and Chief Executive Officer John Watson said during an address to the Economic Club of Minnesota in Minneapolis today.