Exxon: Decarbonization Business Is Set For Huge Growth

Last month, Exxon Mobil (NYSE:XOM) pulled the plug on its 14-year-long algae biofuels project, becoming the last oil company to abandon what was once considered the fuel of the future. The whole idea was not without merit, though. Algae do have some clear advantages over other biofuel candidates, mainly because these photosynthetic microorganisms are super-efficient at converting sunlight into biomass, have high lipid content of up to 80% for some varieties and are more versatile than, say, corn, a common biofuel…