Oil Market Impact
When will the TCP oil have an impact on imports from the Middle East and the current price of oil and gasoline in the U.S.?
The United States is a long way from being able to be energy self-reliant. The U.S. alone uses approximately 20 million barrels of oil per day or 7.3 billion barrels of oil per year. Imports provide 11 million barrels per day or approximately 4 billion barrels per year. These imports currently represent approximately 55% of domestic use. In light of the size of this market, many TCP facilities would need to be deployed to have an impact.
The alternative energy sector could make a more meaningful impact if all fuel and energy sources were actively supported and had a chance to develop. Currently, a burgeoning market exists for biodiesel, ethanol, coal-to-liquid fuel, renewable diesel production and for wind, geothermal, syngas, and hydrogen power generation. More efforts are needed if we are to reach a state of energy independence.
How will your process compete with large oil companies/refineries?
CWT is not in competition with large oil companies or refineries. Rather than rendering the oil industry obsolete, CWT can access and utilize the infrastructure for additional refinery support for the creation of specialized products. The oil industry's pipelines and energy stations can be used to transport and distribute TCP renewable diesel.
Would converting all of the waste in the United States yield enough oil to satisfy today's energy demands?
Agriculture represents over 50% of the estimated 12 billion tons of solid waste produced each year in the U.S. The food processing industry in the U.S. alone generates billions of pounds of organically rich wastes each year. These wastes are associated with the processing of both animal and plant products. If all agricultural waste were made available for use in the TCP, an extraordinarily large amount of oil could be generated that almost meets the 4 billion barrels of oil that are imported to the U.S. each year.