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Exxon’s $100m Algae Investment Falls Flat
OilPrice.com ^ | May 28, 2013 | Jen Alic

Posted on 05/30/2013 11:20:15 PM PDT by Vince Ferrer

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1 posted on 05/30/2013 11:20:15 PM PDT by Vince Ferrer
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To: Vince Ferrer

Tax loss. Good stuff to lose money on.


2 posted on 05/30/2013 11:22:08 PM PDT by Monty22002
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To: Vince Ferrer

Good thing it was only other people’s money that they lost.


3 posted on 05/30/2013 11:22:57 PM PDT by UCANSEE2 (The monsters are due on Maple Street)
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To: Vince Ferrer

Gee... they could have invested that $100 million in drilling for oil and made a killing.


4 posted on 05/30/2013 11:24:11 PM PDT by UCANSEE2 (The monsters are due on Maple Street)
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To: Vince Ferrer
They should fire the accountant that said it was profitable, but my suspicions say they gambled on some big government low-interest green money that never materialized.
5 posted on 05/30/2013 11:24:35 PM PDT by SpaceBar
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To: UCANSEE2

Exxon can throw 100m around like it’s pennies. A billion to them it about a dollar to you. Yet, they’ll still rat out all they can for IT. Kinda amazing how they operate. Nickel and dime here and there.


6 posted on 05/30/2013 11:25:02 PM PDT by Monty22002
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Comment #7 Removed by Moderator

To: Vince Ferrer

If that surprises anyone here, they need to turn in their Freeper posting privileges.


8 posted on 05/30/2013 11:26:35 PM PDT by eddie willers
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To: eddie willers

You can’t imagine how tiny Exxon considers 100m. 100b? Maybe they might care. But even then that’s tiny.


9 posted on 05/30/2013 11:27:59 PM PDT by Monty22002
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To: Vince Ferrer

It was not going to work without a copious water supply. Those H’s have to come from somewhere when making hydrocarbons. An efficient algae that would grow in sea water would have been a major coup here. I don’t think it ever happened.


10 posted on 05/30/2013 11:30:01 PM PDT by HiTech RedNeck (Whatever promise that God has made, in Jesus it is yes. See my page.)
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To: Monty22002

I could have told them algae wasn’t going to work, and saved them the 100 million.


11 posted on 05/30/2013 11:31:51 PM PDT by eddie willers
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To: eddie willers

True, fracking and deep water will supply more than we can use in the next 1000 years probably.

But, you have a lot of high paid people that’ll need to move onto other areas once this algae goofiness fails.

They move people around all the time at the higher levels. That’s just how the slimey oil industry works.


12 posted on 05/30/2013 11:37:10 PM PDT by Monty22002
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To: Monty22002

100M is chump change that benefits them and liberals politically


13 posted on 05/30/2013 11:39:31 PM PDT by GeronL (http://asspos.blogspot.com)
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To: Vince Ferrer

Carbon credits never took flight and that made pond scum just pond scum.


14 posted on 05/30/2013 11:44:47 PM PDT by Irenic (The pencil sharpener and Elmer's glue is put away-- we've lost the red wheel barrow)
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To: Vince Ferrer

If they had hired me, I could have helped them lose only $90 million.


15 posted on 05/31/2013 12:08:20 AM PDT by Cowboy Bob (Democrats: Robbing Peter to buy Paul's vote.)
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To: SpaceBar

Wasn’t the US Navy involved in this algae based BS also?


16 posted on 05/31/2013 12:43:14 AM PDT by Roccus
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To: Roccus
Wasn’t the US Navy involved in this algae based BS also? Yes. The US Navy contracted for several hundred million dollars worth of algae-based diesel and/or fuel oil.

But their deal wasn't with Exxon -- it was with an Obama donor in the bio-fuel business.

17 posted on 05/31/2013 12:48:20 AM PDT by okie01 (The Mainstream Media: IGNORANCE ON PARADE --)
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To: Vince Ferrer
I guess a swimming pool that turns green can no longer be considered an asset.
18 posted on 05/31/2013 12:54:21 AM PDT by count-your-change (you don't have to be brilliant, not being stupid is enough)
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To: okie01

Silly Roccus. I should have known better.


19 posted on 05/31/2013 1:43:33 AM PDT by Roccus
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To: Monty22002

So you buy into the, “Big Oil Obscene Profits”, chant of the liberals? Have you ever looked at the Net Margin on oil versus McDonalds, Apple, etc? Big numbers do not equal big profits.


20 posted on 05/31/2013 1:46:01 AM PDT by Conspiracy Guy (I voted Republican, no Conservative was on the ballot.)
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