The Times (London) reports on a start-up that is using genetically altered bacteria to produce oil,

“Our plan is to have a demonstration-scale plant operational by 2010 and, in parallel, we’ll be working on the design and construction of a commercial-scale facility to open in 2011,” says [senior director Greg] Pal, adding that if LS9 used Brazilian sugar cane as its feedstock, its fuel would probably cost about $50 a barrel.

The entrepreneurs are trying to solve our energy problems. What is government doing? Putting a tariff on Brazilian sugar cane, among other things.