Nobel Prize winning chemist: Biofuel crop production is speeding up global warming
September 28, 2007
An article by Nobel prize winning chemist Paul J. Crutzen is reported to say that that crops used in the US and Europe to make biofuels were speeding up global warming. The article stated that use of canola, or rapeseed, to produce biodiesel resulted in 70% higher emissions than diesel, taking into account the use of fertilizers. The article found that the fertilizers release nitrous oxide, which is 300 times more insulating than carbon dioxide. Read more
Lack of infrastructure to move biofuels to markets impedes African growth
September 28, 2007
Lack of African infrastructure to move biofuels to markets is under scrutiny in an article by AllAfrica.com. “Lack of infrastructure in African countries weighs down opportunities for biofuel use. You can produce it, but if you can’t get it to the users at a reasonable price there’s no point,” a refinery manager for D1 Oils Africa told AllAfrica.
A 300-mile pipeline from Maputo, Mozambique is under development, but in other areas of Africa trucks must be used over unsuitable roads. Read more
Brazilian President: biofuels do not force “a choice between food and energy…the problem with world hunger is not a shortage of food but a shortage of income.”
September 28, 2007
Brazilian President Luiz Inacio Lula da Silva continued his global offensive on behalf of sugarcane ethanol and biofuels with an address at the UN summit on climate change. He strongly defended Brazil against accusations of poor environmental stewardship and the suggestion that biofuel production causes food shortages.
He has pointed out that only 20 percent of arable land in Brazil is currently under cultivation and less than 4% is used for ethanol. “This is not a choice between food and energy,” he said. “The problem with world hunger is not a shortage of food but a shortage of income.” Lula has pointed out that biofuel industry creates higher paying jobs than traditional agriculture. “When we think about ethanol, we think about helping the poor, helping countries like ours out of poverty,” he said.
Biofuels Stock and Financial Outlook for September 28: Stocks expected to open down as oil prices rise
September 28, 2007
Stocks are expected to open down this morning as futures fell for the major stock indices amidst concern about rising oil prices. US crude oil closed at $82.90. Personal consumption and purchasing manager reports are due today, which will weigh on market sentiment. Among biofuels stocks, investors will measure the impact of Archer-Daniels-Midland’s deal with ConocoPhillips to develop bio-crude, a crude oil made from biomass.
The Biofuels Digest Indexâ„¢, a basket of 21 public biofuel stocks, rose 0.89% to 100.16 as investors returned to the sector for a second straight day following a capital flight earlier in the week. Oil rose to more than $82 per barrel, prompting reconsideration of the merits of Big Ethanol. Major ethanol players Pacific Ethanol (PEIX), Aventine (AVR), VeraSun Energy (VSE) and Archer-Daniels-Midland (ADM) were all up for the day, with Pacific Ethanol rising 8.97% to $9.48.
US to lead bid by 16 “Heavy Smoker” nations to avoid UN-imposed emission targets
September 27, 2007
The US returned to its 2001 anti-Kyoto theme of “voluntary emission targets” as a conference of major polluting nations got underway in Washington DC.
President Bush, absent from the UN Summit earlier this week, sought to exert leadership as 16 “Heavy Smoker” nations looked for ways to avoid mandatory emission reduction targets when the UN conference on climate change comvenes in Bali in December.
The US is seeking voluntary mid-term targets, while the EU favors strict targets in both the mid- and long-term.
UN and EU officials attending the meeting said that the US, which produces 25 percent of greenhouse gases but has only 5 percent of the world’s population, needs to go further than voluntary targets.
Biofuels Digest Indexâ„¢ rises 0.89% as the market returns to biofuels for second consecutive day
September 27, 2007
The Biofuels Digest Indexâ„¢, a basket of 21 public biofuel stocks, rose 0.89% to 100.16 as investors returned to the sector for a second straight day following a capital flight earlier in the week. Oil rose to more than $82 per barrel, prompting reconsideration of the merits of Big Ethanol.
Major ethanol players Pacific Ethanol (PEIX), Aventine (AVR), VeraSun Energy (VSE) and Archer-Daniels-Midland (ADM) were all up for the day, with Pacific Ethanol rising 8.97% to $9.48.
Washington summit on climate change opens: Condoleeza Rice says US “supports the goals” of UN Summit
September 27, 2007
A US-sponsored meeting on emissions and climate change opened amidst questions over whether the meeting is attempting to support or subvert the UN summit on climate change attended by 80 nations earlier this week.
US Secretary of State Condoleeza Rice said the US “supports the goals” of the U.N. summit and ” we want this year’s U.N. climate change conference in Indonesia to succeed.”
Business Week profiles oil industry efforts to halt adoption of E85; links spread of “food vs. fuel” articles to oil-funded studies
September 27, 2007
Business Week ran a stinging article on the efforts of oil companies to slow the spread of E85. The article pointed out that, as fuel blinders, it is the oil industry that receives the 51 cent per gallon tax credit for ethanol, but the industry - which did not request the subsidy - has been funding anti-biofuel studies, stimulating a food vs. fuel debate by suggesting that biofuels are driving up the price of food, and not launching E85 through their own brands, forcing eE85 to be distributed through independents.
Brazil’s Petrobras to launch 20 new ethanol plants, add 1 billion gallons of capacity
September 27, 2007
In Brazil, Brazilian state oil giant Petrobras announced plans to develop 20 sugar ethanol plants via multiple partnerships in Goias and Mato Grosso states and a partnership with Japanese trading company Mitsui. Each plant is projected to produce 50 Mgy of sugar ethanol and the first will be ready for operation in 2010.
Arizona Public Service and GreenFuel to test coal-plant CO2 in algae-based biodiesel process
September 27, 2007
In Arizona, Arizona Public Service Company (APS) and GreenFuel Technologies will test using CO2 emissions from a coal-burning power plant to help grow algae that will be converted into biodiesel. The companies, successfully tested the proces at APS’ Redhawk natural gas power plant with productivity estimated at 37 times higher than corn and 140 times higher than soybeans.
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