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-- -- -- -- -- -- -- -- -- -- Jumping through this the roof this -- -- one company has a new technology that may help alleviate the pain at the pump in the future all while creating new jobs here at home.
Back Byron Elton is a -- of carbon sciences in.
-- Fox Business exclusive.
-- thank you so much for joining us.
You've got everybody's attention -- the Chrysler on pace -- -- -- record high your natural gas prices are near record.
None of this stopped.
You've got -- plant we can turn natural gas and gasoline that can go -- our -- -- how do you do it.
While we made an announcement that we're gonna build the plant stand in its simplest form it helps answer the question how we ever going to achieve energy independence in this country.
You know every president since Richard Nixon says we gotta get -- for an -- we gotta get off foreign oil.
But even today we're gonna -- thirteen million barrels of somebody else's oil -- all that money outside the country.
We've got all the resources here at home especially in natural gas to be able to make the -- ourselves.
So you're right so the first question is can you make conventional gas at a natural gas yes you can't -- the plant there were gonna build is gonna do precisely that.
So how is this technology being around Elton and David has been around how come no one else has done it.
Fair question so it's a three step process the first part which is the most expensive by the ways take she takes the natural gas turns it into -- -- house.
-- -- gas gets turned in the methanol which we've been doing for many many years and then the methanol into gasoline that's an ExxonMobil process.
How and a good is a fair question terms why hasn't anybody done and I think it's been a function of scale and quite frankly economics for the big -- And that's where we see the opportunity.
That the big secret about natural gas is -- we have trillions of cubic feet it's all over the place and and lot of case it's it's a smaller reservoirs.
Not big enough for the big guys.
But -- -- and it wasn't one problem that the consumer might have with this is they might say.
Do I have to have a vehicle that can actually take this type of gasoline made from natural gas.
-- I have to -- special car.
Yeah great question and the in the case of this plant absolutely not but gasoline that we make is the gasoline that we use so what's conventional gasoline.
As you know there's other approaches that use compressed natural gas the entire infrastructure has to be overhauled massive overall.
Lot of time lot of money.
In this case its existing vehicles the existing distribution system and the existing infrastructure so we think it's a really compelling dynamic that's gonna make the successful.
Certainly natural gas is cheaper commodity -- -- all do you think natural gas could replace oil in the United States -- it's hard habit to break.
Yeah and why don't think so I mean we we we have a lot of crude -- that we we produce about seven million barrels a day.
We used money so in terms of energy independence.
It's -- thirteen million that's the number we got to concentrate on can natural gas replace all that.
-- I could have but I think it's gonna be a combination of a lot of approaches this is a great start.
We're never gonna stop using crude oil but again the good -- any good news zero point earlier this it's the same product or making.
It just the feed stock is natural gas which we have an abundance is ours it's cleaner.
It's affordable as opposed -- thirteen million barrels a day that we buy for other people which is dirty it's expensive and is there.
Sets up a lot of -- she's spoken to the president about your plant.
I haven't you know for some reason he has not yet returned my calls I think after I think after this appearance on -- you know it's I'll give them myself what is it we're -- -- if you had his -- what would you tell him.
Listen if you're serious about we're having on talk about energy independence the question is how we gonna do that nobody would disagree.
And up ahead is -- I'd -- president we we support you in getting off of the foreign oil.
Love the political will now we need the leadership to give us the answers on how.
Using natural gas which you have here in the United States to make gasoline is a great start the technologies are proven they're here.
Support us let's get going.
RA you have an -- Pak us at hello mr.
Carbon sciences yet thank you for joining us thank you very much president of big thing.