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Carbon Sciences to Benefit From Obama Administration
Legislation May Come Early Next Year to Speed a Transition to an Economy Fueled by Renewable Energy Sources
| Source: Carbon Sciences Inc.
SANTA BARBARA, CA--(Marketwire - November 12, 2008) - Carbon Sciences Inc. (OTCBB : CABN ), the
developer of a breakthrough technology to transform carbon dioxide (CO2)
emissions into gasoline and other fuels, today commented on potential
benefits from the Obama administration's emphasis on developing renewable
energy sources. Industry observers forecast that legislation may come early
next year to speed a transition to an economy fueled by renewable energy
sources.
Independence from foreign oil has been a goal of the United States since
the energy crisis of the 1970s. However, global economic and geopolitical
incentives were not present to justify sweeping changes to US energy
policies. With a world plunging into recession, national security issues
resulting from decades of dependence on imported oil, and record high
unemployment, world leaders are saying that now is precisely the time to
launch a global revolution to unravel the current unsustainable energy
ecosystem.
President-elect Obama is pushing for a comprehensive overhaul of US energy
policies with his "New Energy for America" plan. The plan calls for the US
to "strategically invest $150 billion over 10 years" in a "clean energy
economy" that will "help the private sector create 5 million new green
jobs, good jobs that cannot be outsourced." With only 3 percent of the
world's oil reserves, the US cannot drill its way to energy security.
Obama envisions the development of new technologies that can produce
synthetic petroleum from sustainable feed stocks as the solution to break
American addiction to oil. Obama wants at least 60 billion gallons of
advanced biofuels by 2030. In solving the energy problem, Obama believes
that he can solve the unemployment problem which will ultimately ensure
long term economic prosperity.
Derek McLeish, CEO Carbon Sciences, commented: "The world is highly
dependent on the existing transportation and fuel delivery infrastructure.
Automobiles, trucks, trains and planes powered by portable fuels are
crucial to our way of life. Other alternative fuel technologies, such as
fuel cells and hydrogen, require substantial infrastructure changes in
order to meet the energy and climate challenge. Carbon Sciences' technology
enables a sustainable world of fuel consumption and climate stability by
transforming CO2, a massive byproduct of fuel usage, into a synthetic
petroleum fuel. For example, our technology can be used to transform CO2
from fossil fuel power plants into gasoline to run cars and jet fuel to fly
aircraft. The timing for our technology couldn't be better and we look
forward to the highly anticipated legislative changes next year in support
of renewable energy technology."
President-elect Obama's "New Energy for America" plan can be found at:
http://www.barackobama.com/pdf/factsheet_energy_speech_080308.pdf
About Carbon Sciences Inc.
Carbon Sciences Inc. is developing a breakthrough technology to transform
carbon dioxide (CO2) emissions into the basic fuel building blocks required
to produce gasoline, diesel fuel, jet fuel and other portable fuels.
Innovating at the intersection of chemical engineering and bio-engineering
disciplines, we are developing a highly scalable biocatalytic process to
meet the fuel needs of the world. Our solution to energy and climate
challenges is a sustainable world of fuel consumption and climate stability
by transforming CO2 into fuel. For example, Carbon Sciences' breakthrough
technology can be used to transform CO2 emitted from fossil fuel power
plants into gasoline to run cars and jet fuel to fly aircraft. To learn
more about Carbon Sciences, please visit our website at
http://www.carbonsciences.com.