Yes, there is a Washinton D.C.-based company, Environ, that has begun operations at a plant to convert used plastic bottles (and other plastic waste) into a substance resembling crude oil, that can be mixed with crude oil and used as a fuel. Currently the company produces a barrel of oil for about 10 dollars.
The New York Times just wrote an article on this topic today! There is a new way to convert low value plastic into high value fuel. Machines first heat up the plastic with infrared energy to a very specific temperature range. The resulting fuel can be either gasoline or diesel that will sell for about $10.00 per barrel, which is well below the current $70.00 per barrel of crude oil.
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