In the present state of the oil economy with consumers bearing the brunt of the high prices, the race for an aternative fuel is back on.
The successful contender will need to be cheaper than gasoline, be available in large quantities and have smaller greenhouse-gas emissions than gasoline.
With so many considertaions, it could be a while yet before any alternative fuel will ever cross the line ahead of gasoline.
The leader of the competing pack right now is ethanol made from corn. Economically sound, it is believed that even if price of gasoline drops below the current levels and that of corn rises, it will still be cheaper to buy a gallon of ethanol than gasoline.
The price buffer is essential as history has not favored alternative fuels. In the 1980s gasoline prices were at a record high and alternative fuel programs were encouraged. But when the oil prices plummeted, most of the other fuels became non-competitive resulting in heavy losses.
The one problem with ethanol made fromcorn in the short supply of corn in the U.S. Other materials are being tested for the production of ethanol. Some estimate that switchgrass could quadruple the output of ethanol from a single acre. Also if the U.S lowered import barriers for sugarcane, used heavily in Brazil, the future of ethanol fuel would really look up.
Turning cellulose-based materials into ethanol is a promising alternative but needs to be tested at a full-scale production level.
Another burgeoning option is methanol from coal. So far, methanol has been made from natural gas, but the US has vast coal reserves and the production cost for methanol would be as low as 40 to 50 cents a gallon. Indy cars have been using Methanol directly as a fuel and it can also be used as a rich source of hydrogen for fuel-cell vehicles. Methanol can also be used for the production of biodiesel.
The one drawback is the large amount of greenhouse gases released while producing methanol from coal.
While other fuels like compressed natural gas and liquefied natural gas are in use, the race seems to be between three types of fuel - ethanol from cellulose and sugarcane, methanol from coal and electricity from the wall outlet.
Using electricity is efficient, cheap and would cause far less pollution than gasoline.
Finally, trends in the automotive industry may decide the winning formula.
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