ConocoPhillips believes that alternative energy is an important part of the long-term energy solution. The company is working to develop renewable fuels from biomass and produce these biofuels in its refineries.
Alternative fuels include second generation biofuels, utilizing non-food feedstocks such as corn stover and animal fats. ConocoPhillips believes it is important to add to the fuel supply without using valuable food products.
Additionally, the company believes that hydrogen has long-term potential to reduce the environmental impact of transportation, if the hydrogen is manufactured in an efficient way. ConocoPhillips is researching novel methods to generate hydrogen for current refinery needs. The company also participates in the Department of Energy’s FreedomCAR and Fuel Partnership, between the government, oil and automakers, to determine if and how to introduce a hydrogen-based transportation system in the United States.
As part of its increased funding in long-term research and development, ConocoPhillips will add several multi-year, multi-million dollar biofuels research agreements in 2007. Awards will be granted to colleges to work on a variety of issues, including the conversion of biomass to fuels and the conversion of carbon to liquids. These partnerships will help to ensure that renewable fuels are available in the future.
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