This morning the big headline is the government granted the first oil drilling permit in the Gulf — to Noble Energy (NYSE:NBL) — since the BP (NYSE:BP) Oil spill. But another headline should also be on your radar …
Massachusets biotech firm Joule Unlimited claims it can make Oil (NYSE:USO) out of Water (NYSE:PHO). Joule Unlimited has “invented a genetically-engineered organism that it says simply secretes diesel fuel or ethanol wherever it finds sunlight, water and carbon dioxide.”
If this is remotely true, we are seeing the seeds of alternative energy (NYSE:PBW) venture capital starting to sprout in ways that could intensely disrupt the nearly omnipotent oil and gas industry.
Of course, the new technology is not ready to come to market. However, as oil prices continue to rise on fears of decreasing supplies, statistics regarding increasing demand, and a never-ending exposure to geopolitical instability, entrepreneurs around the world will be working 24/7 to develop the next Trillion dollar energy market.