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It doesn't matter how you make the fuel. You are still burning it. By developing a new source of fuel you are making the pollution even worse. Without alternative sources of organic energy, humans would be forced to develop more ecological methods to extract energy, even if they were more expensive. However, with cheap alternative sources available you are slowing down this development and extending the era of burning organic materials, which inevitably produce CO2 and contribute to the global warming. So unless you can figure out how to burn organic materials without CO2 as a product, you are not doing environment a favor.
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