The reincarnation of the prime-time soap “Dallas” is back on the air. This time, it pits cousins John Ross and Christopher against each other in a battle between oil and renewable fuels. John has struck oil, while Christopher has a dream about frozen methane.
Only on TV will you find anyone willing to walk away from a bona fide gusher in order to lick a frozen fuel slurpee.
Out here in the real world, the renewable fuel business is a mess. Billions spent, years wasted, and the Navy is still paying $64 a gallon for its Green Fleet “drop-in”, low-carbon fuel — and it still mixes the high-priced stuff with petroleum!
In the meantime, entrepreneurs who can make plain ol’ biodiesel that’s cost-competitive with the petro version, can’t find investors or get a loan. Why? Because everyone is still lined up at the Federal trough of “free” grant money — and until that trough is emptied, the private market can’t — and won’t — compete.