Chevron, Weyerhaeuser to Develop Biofuel

Oil major Chevron Corp. and timber outfit Weyerhaeuser Co. on Thursday said they will look into jointly commercializing the production of biofuels from cellulose, the basic material of all green plants.

The companies said they will focus on researching and developing technology to convert wood fiber and other sources of cellulose into clean-burning biofuels for cars and trucks.