Oil Giant Injects Biofuel Hopes with $500 Million

Oil Giant Injects Biofuel Hopes with $500 Million

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"Oil giant BP will give $500 million to a partnership led by UC Berkeley to develop new biofuels and reduce environmental harm caused by the use of fossil fuels, Gov. Arnold Schwarzenegger and company officials announced Thursday. (They) will team up with the University of Illinois at Urbana-Champaign… to develop fuel from plants, improve the extraction of oil from existing reserves and find ways to keep carbon from entering the atmosphere." (LA Times)

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