(NewsUSA) - America's quest to reduce its fuel consumption and dependence on foreign oil may lead it to look for energy sources in new places -- like the bottom of a trash barrel.
JBI, Inc. (OTCBB:JBII), a global technology company, has developed a process, called Plastic2Oil (P2O), that converts raw, unwashed, unsorted plastic waste into a fuel similar to biofuel. An independent laboratory, Islechem, validated the P2O process through extensive chemical, analytical and process engineering testing.
Islechem tested the process over 40 times using multicolored, mixed plastics. The laboratory determined that the P20 process is repeatable and can be done on a large scale. Approximately 85 to 90 percent of the hydrocarbon composition in the feedstock is converted into a "near diesel" fuel, while about 8 percent is converted to a usable off gas much like natural gas. In addition, only 1 percent of the plastic becomes residue, and that residue does not contain any highly toxic elements and is safe for landfill disposal. Even better, more energy is produced than consumed by the process. Early data suggest that the process creates twice as much energy as it uses.
"It takes energy to produce energy. The key is to get more energy from the final product than it takes to make it," said JBI, Inc. CEO John Bordynuik. "Our process has a high positive energy balance of 2.0, while gasoline from crude has a negative energy balance of 0.81."
The fuel produced by the P20 process has another major advantage over gasoline from crude oil -- its production, including labor, costs only about $10 a barrel.
Gasoline from crude oil uses more energy than it produces and currently costs between $75 and $85 a barrel -- and yet gasoline companies yield high profits.