How large is the market opportunity LS9 is pursuing?
The global petroleum markets are astoundingly large. According to the BP Statistical Review of World Energy, world oil consumption for 2006 was 83.7 million barrels per day or almost 1.3 trillion gallons per year. To put that number in perspective, in the time it took you to read the last two sentences (roughly five seconds), the world consumed over 200,000 gallons of fuel. In the last 41 minutes, the world consumed 100 million gallons of petroleum – the equivalent annual output of a commercial ethanol plant. If LS9 achieved 1% global market share, we would be a Fortune 150 company.
