Branson: All Boarding For Cellulosic Ethanol

Richard Branson's sick and tired of high fuel costs, so he's all over cellulosic ethanol as a fuel for his Virgin Airways.

“We are looking for alternative fuel sources. We are going to start building cellulosic ethanol plants (to make) fuel that is derived from the waste product of the plant,” he told Reuters in an interview in the oil-rich United Arab Emirates.

“It is 100 percent environmentally friendly and I believe it’s the future of fuel, and over the next 20 or 30 years I think it actually will replace the conventional fuel that you get out of the ground.”

Branson did not say where Virgin would build his factories or how economically viable cellulosic ethanol would prove. “We are in the early days,” he admitted.

Essentially, it's a "I'm sick and tired of paying high jet fuel prices and I'm not gonna take it anymore" PR move. Is cellulosic ethanol cost-effective? Stay tuned...