ScienceWorld News Scientists Turn Algae Into Crude Oil – Within Minutes! By NewsRescue - December 20, 2013 FacebookTwitterPinterestWhatsAppReddItTelegram Dec. 19, 2013 The end of fossil fuel dependence? The announcement was made in a recent issue of Algal Research. Genifuel Corp. is currently refining the process for industrial use. Could this mean the end of the “peak oil” theory?