Yesterday, Valero astonished the financial markets with the unlikely announcement that its star Q3 result was a $49 million profit from its seven ethanol plants.
More here: Rising numbers from the ethanol industry
Now if we can only get a better feedstock for this fuel…
Riggs
Thanks to Biofuels Digest
Ethanol Rises From The Ashes…
High Speed Rail Stimulus Funds Dwarfed by Proposals
…the $8 billion stimulus budget for high-speed rail is dwarfed by the more than $50 billion worth of proposals from across the country.
(President Obama has billed the $8 billion in stimulus funds for high-speed rail as the “first step” toward a nationwide system of European-style bullet trains linking the nation’s largest cities.)
A viable high speed rail network is essential to our efforts to reduce the greenhouse effect, especially at 30,000 feet where it does the most damage.
Riggs
Thanks to Greenwire
Oil Demand Has Peaked in Developed Nations, Never to Return
“Demand for oil in developed nations peaked in 2005, and changing demographics and improved motor-vehicle efficiency guarantee that it won’t hit those heights again, IHS Cambridge Energy Research Associates [CERA] says in a new report”, reports the New York Times.
But CERA cautions that developed nations will hardly be through with oil anytime soon. The demand reduction in OECD countries between the 2005 peak and 2030 is expected to be “fairly modest,” it states.
This flattening of demand for petroleum may help explain why the oil majors are moving aggressively on biofuels like algae. That’s the new business in the developed world.
Riggs
Green Flight From California?
BlueFire Ethanol goes to Mississippi to ramp up, reports BioFuel Digest in its Top Story today:
Project flight from California? BlueFire switches to Mississippi
Golden State loses $8.3 million after tax hike backfires, permitting delays mount; cellulosic ethanol pioneer, DOE head for Dixie
In California, cellulosic ethanol pioneer BlueFire Ethanol Fuels announced strategic relocation of its second planned biorefinery to Fulton, Mississippi. BlueFire will utilize green and wood wastes available in the region as feedstock for the cellulosic ethanol plant that will be designed to produce approximately 18 million gallons of ethanol per year. BlueFire is currently receiving funding under the $40 million DOE grant it was awarded in 2007 for the development of [...]
Billionaire George Soros was in Denmark over the weekend…
and “announced a $1 billion personal foray into the cleantech space. He’ll invest $1 billion of his own money for profit, while funding his newly-created Climate Policy Initiative with an additional $100 billion. He also underscored the need for swift action on climate change.” More here.
All ahead of COP-15 this December.
Riggs
Thanks to Green Chip Review
Green groups clash over forest-based carbon offsets
Here’s a good example of how not to do carbon offsets, says Treehugger, who says Greenpeace USA’s report “highlights the failures of the Noel Kempff Climate Action Project in Bolivia, sponsored by American Electric Power, BP, and PacifiCorp. Basically, not only is it reducing emissions 90% less than promised, deforestation has actually increased elsewhere…”
The carbon trade is incredibly susceptible to interpretation, which is critical given the huge sums of money involved.
Riggs
Thanks to ClimateWire