Exxon Mobil declares that it is investing “hundreds of millions” of dollars into algal biofuel research, noting that algal biofuels may have about 50 percent lower life cycle greenhouse gas emissions than petroleum-derived fuel, and avoid some of the indirect life cycle emissions of biofuels derived from corn. They are targeting production of 10,000 barrels of algal biofuel per day by 2025, and have succeeded in doubling the oil concentration of algal biofuels in a recent study.