This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Higher Oil Costs Could Speed Up The Use Of New 'Green' Materials Such As Old U.S. Paper Money In Future Fords

DEARBORN, Mich., April 17, 2012 /PRNewswire/ --

  • The price of petroleum – used to manufacture plastics – is rising, making a stronger business case for finding new sustainable materials for Ford cars and trucks
  • Potential alternatives to petroleum-based products, including old U.S. paper currency retired from service and shredded, could join soybeans, denim, plastic bottles and other materials used in Ford vehicles
  • A prime example is soybean-based foam material, used in seat cushions, backs and head restraints, which saves Ford an estimated 5 million pounds of petroleum annually

Rising oil prices have Ford upping the ante in its push to reduce petroleum dependence and use more sustainable materials – including retired U.S. paper currency – to make parts.

A wide range of alternatives to products now made with petroleum are under review for potential application in Ford vehicles – from shredded retired currency to cellulose from trees, Indian grass, sugar cane, dandelions, corn and coconuts.

"Ford has a long history of developing green technologies because it's the right thing to do from an environmental perspective," said John Viera, Ford's global director of Sustainability and Vehicle Environmental matters. "Now, finding alternative sources for materials is becoming imperative as petroleum prices continue to rise and traditional, less sustainable materials become more expensive.

"The potential to reuse some of the country's paper currency once it has been taken out of circulation is a great example of the kind of research we are doing," Viera added.

In the early 2000s, when Ford started heavily researching sustainable materials, petroleum was readily available and relatively cheap; a barrel of oil was $16.65. Earlier this year, a barrel hit a high of $109.77.

Adding to the appeal of the new potential resources is that they are so plentiful. For example, 8,000 to 10,000 pounds of retired paper currency are shredded daily – more than 3.6 million pounds annually. The shredded money is either compressed into bricks and landfilled, or burned.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,011.94 -28.43 -0.16%
S&P 500 2,109.60 -2.13 -0.10%
NASDAQ 5,076.5240 -6.4050 -0.13%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs