Developing Alternatives.(Virgin CEO Richard Branson)(Interview)

Byline: Emily Flynn Vencat

As Britain's most famous entrepreneur, there are few businesses that Virgin CEO Richard Branson hasn't considered conquering. From industry-changing successes like Virgin air travel and telecoms to fizzlers like cola and wedding dresses ("Virgin Brides"), Branson--whose personal wealth racks up at [pounds sterling]3.1 billion--has been at the helm of more than 200 start-ups since publishing a magazine called Student at age 16. With reports circulating that he's on the verge of buying a stake in Asia's newest budget airline, Branson caught up with NEWSWEEK's Emily Flynn Vencat in London last week to discuss his latest entrepreneurial dreams, which include launching the developing world up into the air without harming the planet, trouncing Rupert Murdoch and getting rich off global warming. Excerpts:

FLYNN VENCAT: You recently pledged $3 billion to fight global warming. But at the same time, your airline business is expanding. Do you really think we can save the planet while increasingly becoming jet-setters?

BRANSON: I don't think we can save the planet on our own. We need the leaders of the world to treat this as seriously as World War II looming. For our part, we're doing a lot of things. We invest all of the profits from all of our airlines into coming up with an alternative, clean fuel. And I think the chances of us coming up with [one] in the next five years are pretty good. There is enough sugar in this world to replace all of Europe and America's conventional fuel with sugar-based ethanol. We're even working with General Electric and Boeing to develop a clean fuel that we think will be capable of flying 747s sometime next year.

Many scientists criticize ethanol because producing it requires fossil fuels.

It's absolute bollocks for people to say that. Even corn-based ethanol, which is about six times less efficient than sugar-based, still saves 50 percent CO2 compared to conventional dirty fuels. Cellulosic butanol--which uses switch grass and rubbish--will be the next step.

You've said that space is the tourist's next frontier. Can space travel be ecofriendly?