Very interesting, and nothing to say that it couldn't use algae as its feedstock. We could grow algae in the desert and export oil!
Anything Into Oil 1may03
"We will be able to make oil for $8 to $12 a barrel," says Paul Baskis, the inventor of the process.
What word on this that's less than a year old??
Here's a reference to a paper presented at some conference earlier this year. (unfortunately, a couple of weeks ago someone else referenced it and I called it "pedantic". oh well)
Check some of the footnotes. It appears to be a going concern.