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Byron Elton, Carbon Sciences CEO, on why he believes natural gas is the key to economic stability and job creation in the U.S.
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And is developing a way to use more of about converting it and Byron Elton carbon sciences CEO -- has been up -- -- you wanna take basically carbon tax cut emissions from coal plants for example.
Substituted for gasoline petroleum jet -- sounds like a great idea how do you implement that.
Well as a number ways -- doing natural -- mean we believe that natural gas is the fuel of the future.
Certainly it's our best opportunity to achieve energy security and create permanent high paying jobs in the country -- Have carbon sciences were developing -- catalysts.
That enables the production of transportation fuels hydrogen and other viable products.
That can be used in the existing infrastructure.
It's a huge opportunity because essentially anything you can make with crude oil.
You can make -- natural gas.
But at the outset natural gas is more affordable it's cleaner.
And most importantly it's ours we've got all the we need and we'll have for many many years to -- But so so again the science is there they can you say in you know another even talking to big oil companies that you need money to develop the technology I mean I've heard some say -- twenty years away.
From saying the benefits of this technology those -- products what -- use.
Well we don't need to wait twenty years as a matter of fact it's happening right now shell give -- -- perfect example invested twenty billion dollars into.
Pearl GTO facility of cutter.
They're currently producing enormous amounts of diesel fuel that fit into the existing infrastructure the use natural gas they don't use any crude oil whatsoever.
Cecil from South Africa is looking at doing the same thing and in Louisiana so the technology is here and today now how long it'll take to implement -- to have a an immediate impact that's a great question.
I mean we use twenty million barrels of oil every single day.
We only produce about seven so that delta thirteen million barrels of oil every -- we're buying from other countries.
And even at 92 dollars a barrel which is that today's price.
You can do some quick math that's 400 billion dollars a year were sending outside the country.
So here we are sitting on more natural gas in any country in the world you can make transportation fuels and hydrogen and other products out of it and we're not exploiting at the way that we should.
So it's gonna take some time to build the infrastructure to implement it but certainly -- worth our best efforts.
OK and you and you making those efforts and I get Sunday -- -- -- -- -- trying to get the financing here's the thing Vermont the first state to ban fracking is a very controversial way to extract a natural gas from the rock and many are concerned that other states are going to follow the same -- what does that do to your technology -- business.
Well we're not in the fracking business number one we are and they -- -- natural gas business but I think the Vermont that decision was largely symbolic as you know.
Other state doesn't have any natural gas.
And so for the states to do obviously this is a much more serious.
Consideration.
And when you look at the upside you know fracking has been around for a long time this is not a new technology it's opened up extraordinary reserves of natural gas to us.
And any big industrial.
The situation is gonna be fraught with potential problems look what happens in coal mines -- rigs offshore drilling.
But as an industry they've had a remarkably good safety record.
You should they be safe absolutely and I don't think anybody is more invested in that -- the companies of self.
Listen having big problems where your fouling the water supply is not exactly good for visitors shot so the question matter is if there we know how to get it but we should be very responded -- how we do.
It's very controversial but again -- the companies traded up Byron Nelson carbon sciences CEO Byron.
