Primus Energy recently raised over twelve million dollars for its bid to revolutionize how Americans fuel up. In Hillsborough, New Jersey, Primus Energy has a test plant currently producing biofuel, with a conversion process at twenty five percent efficiency, nearly twice that of the leading rival biofuel company. Their goal, before breaking the ground of their first commercial plant in 2013, is to raise that efficiency to 33%. The company is considering an IPO, causing a great deal of anticipation in prospective investors.
With a company looking to have widely produced biofuel as early as 2014, it comes as a bit of a surprise when critics of Obama’s renewable energy policies claim that varied sources of renewable energy will not be viable for the foreseeable future, such as retired Westinghouse engineer Samuel Cerni. Touting Republican rhetoric, Mr. Cerni claims in a letter to the Pittsburgh Post-Gazette that local oil drilling would lower price speculation, and thus the price of gas.
Even if that was true, what Samuel Cerni fails to mention is that oil and gasoline, by their nature a non-renewable energy source, will only dip in prices long enough for the oil reserves to deplete until the prices are risen yet again. This is aside from the fact that every year, gas prices are higher than the year before, yet gasoline companies report record breaking and ever increasing profits each and every year.
Companies like Primus Green Energy are the way of the future, and investing companies needs to keep embracing them, allowing them to supplant the existing market dependent on an ever depleting resource.
For more information on Primus Green Energy.