often empty their garbage when they fuel up at the local truckstop.
If Brian Appel gets his way, that trash could turn into a treasure.
is the chairman and CEO of Changing World Technologies, a New York
company that plans to turn garbage – be it tires, the old beach
ball, your old junked computer, the leftovers from the dinner table
or even human and animal wastes – into oil.
oil, as in black gold, Texas tea … oil that can be made into fuel
oil, gas or diesel.
to a statement from the company, the process mimics the way heat
and pressure inside the Earth convert organic materials into oil.
The material is chopped up, and then heated and pressurized to produce
company has a research and development plant at the Philadelphia
Naval Yard, and has set up a partnership with ConAgra foods to reprocess
waste from its turkey operations at a plant in Carthage, MO, in
the southwestern part of the state.
company has lined up some impressive backers, including Howard Buffett
of ConAgra, son of investment giant Warren Buffet, and James Woolsey,
former director of the CIA, who advises the firm. In fact, the two
are among the investors who recently pumped $50 million into the
company, Reuters news service reported. That investment complimented
the millions Changing World Technologies has received from government
it makes some pretty impressive claims. According to Reuters,
Changing World says it can produce oil at $15 a barrel – considerably
lower than the current price (as of July 21, the cost, according
to News24, oil was $28.85 per barrel). The company says that
in a few years, its cost will drop to $10, and later could drop
to as low as $6 per barrel.
whether the technology is as promising as it sounds – and truckers
will be filling their tanks with what used to fill their trashcans
– depends on who you ask.
the technology is successful, it could offer enormous opportunities
to address farm waste problems in the Midwest,” William Rice, acting
regional administrator of the Environmental Protection Agency, said
in a statement. “It could be applied to all sorts of other wastes.
This looks extremely positive.”
might work in the lab, but when you put it on a larger scale it
becomes a daunting task; It is uneconomic and it's not feasible,"
Fadel Gheit, an oil analyst at Fahnestock & Co. and a former
engineer, told Reuters. “This is a garbage disposal business;
it has nothing to do with energy."