Climate change, algae and bio-fuel

Algae, which are considered as a potential renewable energy source, are tiny plants that use photosynthesis to transform carbon dioxide and sunlight into energy so efficiently that they can double their weight several times a day. Algae can grow in swamps, filthy pools and waste water making those one of the cheapest source for possible bio-fuel. However, the race has started picking to produce cheap fuel from them. ExxonMobil said to invest 600 million dollars into algae research in a partnership with a California biotechnology company to develop technique for bio-fuel extractions from algae. There are other companies who are also in the line on the gold rush. If it is successful, this will solve two problems in one shot; reducing carbon dioxide and finding an alternative fuel.