The long-term impact of yesterday startling announcement by Standard & Poor's that it was downgrading US government bonds to one notch below AAA, a rating that the U.S. had maintained since 1917, has yet to be seen on Wall Street.
But there is little doubt that it will spook the investor community, all of whom are looking for the next Big Thing to park their cash and hopefully make piles more money.
One of the few financial markets certain to prosper over the next decade is that of renewable biofuels. The ASTM as certified them for civilian aircraft used, and the Pentagon is busy scrambling to fulfill federal mandates are upping their use of biofuel: the Air Force is to get 50 percent of its fuel needs from biofuel in 2015, and the Navy at decade later.
But, where to go for the most reliable feedstock? In Pentagon test, three leading contenders have emerged - camelina, jatropha and algae. While all three have their merits, "micro" algae still seems like the longest shot, remaining largely within the realm of the Pentagon's Defense Advanced Research Projects Agency laboratories, and most analysts believe that it will be some time before we see pond scum fueling the Pentagon's aircraft and warships.
Now however, disillusioned scientific researchers in India, having spent more than two years investigating microalgae, have directed their research elsewhere, resulting in a startup company that may eventually resemble nothing so much as the early days…