The BrettonWoodssystem fractured amid the inflationarypressuresof the 1970s, around the time the richworldembarked on a three-decade process of financialliberalisation.
But Woods notes that algae, using Algenol's patented process, produces eight times more energy than the energy used to make it.
VOA: standard.2009.09.02
Some leaders have urged the meeting to begin the process of launching a new global agreement to stimulate prosperity, similar to the Bretton Woods agreement in 1944 that created the post-war system of fixed exchange rates and established the IMF and the World Bank.