Word: fuel
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...know what my favorite renewable fuel is? An ecosystem for innovation. That's really what we're missing today--100,000 people out there trying 100,000 different things in 100,000 different garages. Who knows what will come out of that...
...transformation of Sasol from a company with the most dubious of pasts into a company with the brightest of futures illuminates our can't-live-with-it, can't-live-without-it relationship to oil. The future well-being of the planet depends on our reduction of fossil-fuel emissions. On the other hand, the future well-being of much of humanity depends on our continued use of fossil fuels. The way companies like Sasol negotiate this dilemma will help determine the future...
...first, about that dubious past. Sasol's origins can be traced to the work of two German scientists, Franz Fischer and Hans Tropsch, who in 1923 came up with a process to convert coal to liquid fuel. When Adolf Hitler seized power in coal-rich, oil-poor Germany in 1933, the Nazis used the Fischer-Tropsch process to help power their military expansion across Europe; during World War II, Germany was producing 125,000 bbl. of synthetic fuel a day at 25 plants. After the war, a South African entrepreneur called "Slip" Menell bought the South African rights to Fischer...
...vital for the ANC as a government. Today Sasol has a market cap of $32 billion and is South Africa's biggest private-sector employer, with a workforce of 33,000, earnings that account for 4.4% of GDP and a production output that satisfies 38% of South Africa's fuel needs...
...produce 80,000 bbl. a day by 2012, are at an advanced stage. In the U.S., Sasol is courting interest from several states, including Montana, Illinois and Wyoming, as well as the U.S. military, which is attracted by the security advantage of a U.S.-based coal-to-liquid-fuel plant over imports from the Middle East or Africa. In India, coal deposits have been identified, but talks with the government are at an earlier stage than in China. Sasol built a natural-gas-to-liquid plant in partnership with Chevron in Qatar in 2006, and a second such plant...