Today in Biofuels Opinion: “Not every flavour of ethanol is good for the environment.”
September 24, 2008
Dan Kammen, director of the renewable and appropriate energy lab at the University of California, Berkeley: “Not every flavour of ethanol is good for the environment. Quite a few of them are not.”
Howard Hankins, motorist: “I was getting 53 miles per gallon, and now it’s down to 47. No matter how I drive, I can’t get it to change. It’s frustrating that they’ve crammed it into my gas tank. They are claiming it’s a panacea for all our troubles. It’s not giving the consumer any benefit at all.”
Today in Biofuels Opinion: “Never before has a political party and their candidate been so devastatingly threatening to my special interest.”
September 23, 2008
David Kruse, president of CommStock Investments: “I care about one thing…championing the interests of the biofuel based ag and Midwest economy. That makes me a special interest, but family, home, business, state, country is a good special interest to have. Normally, ag policy isn’t enough to determine support for a president. In fact, it’s unprecedented … Never before has a political party and their candidate been so devastatingly threatening to my special interest. Yes, there are more issues than ag policy, but when shot between the eyes by John McCain, without a pulse I can’t get to another level to worry about health care or Supreme Court judges.”
Australian Biodiesel Group chief executive Bevan Dooley on the decision by the New South Wales government to cancel a planned biofuel mandate: “This is a very disappointing development. It’s about time we faced a hard reality. Oil is going to become more and more expensive, and Australia does not have much of it. Short of a mandate being enforced or a more sensible fuel regime, the barriers to market are sufficient to prevent the large production volumes required to make a business profitable.”
Today in BIofuels Opinion: “We haven’t even begun to see the impact on the cost of food.”
September 22, 2008
Kent Barton, plant spokesman for Moroni Feed: “I don’t believe consumers understand what’s going to hit them next year. We haven’t even begun to see the impact on the cost of food.”
Gary Truitt, Hossier Ag Today: “So who is responsible for the price increase?” “Oil,” I answered…In terms that chefs can understand: In a grocery bag filled with 5 common food items totaling $14.47, $2.75 goes back to the farm while $11.22 goes for transportation and marketing.”
Today in Biofuels Opinion: “In the latest case of hedges gone wrong…”
September 19, 2008
Pavel Molchanov, energy analyst for Raymond James: “In the latest case of “hedges gone wrong” - owing to the sharp volatility in the corn market throughout much of the year - VeraSun shined a light on a much wider-than-expected net loss this quarter. After being caught on the wrong side of the trade during corn’s meteoric rise, VeraSun exited its corn hedging position in July and re-priced its physical purchases at the then-current market price, which ultimately proved to be near the top of the overall commodity rally…a similar situation, with heavy corn hedging losses (both cash and non-cash), occurred at BioFuel Energy in August.”
Maria Rosaria Di Somma, director general of Italy’s Union of Biodiesel Producers. “We have started late. We are still at 1-2 percent (of biofuels in fuel mix) and that gives us some breathing space (with respect to reduced EU biofuels targets). We confirm all our short- and medium-term targets… We see no impact on the current capacity and short-term investment from the (planned) change in percentages.”
Today in Biofuels Opinion: “The Democrats will run their bill, the Republicans will run our bill, none of them will reach 60, and my guess is that’s where everything stops.”
September 18, 2008
Senator John Thune (R-SD), on the prospects that the House Energy bill will pass in the Senate this year: “It would definitely be the triumph of hope over experience. The Democrats will run their bill, the Republicans will run our bill, none of them will reach 60, and my guess is that’s where everything stops.”
David Tilman, ecologist at the University of Minnesota, on corn-based ethanol: “You suddenly have a biofuel that releases more greenhouse gas than if you just burn gasoline. It actually harms the global climate.”
Today in Biofuels Opinion: “The US biodiesel industry, under the cover of policies for energy security and independence, is creating an export industry dependent on subsidies.”
September 17, 2008
The European Biodiesel Board: “That European companies may be benefiting from the subsidy has no legal bearing at all. The US biodiesel industry, under the cover of policies for energy security and independence, is creating an export industry dependent on subsidies.”
Fiji Ministry of Agriculture official Viliame Yabakiwai and Department of Energy director Vili Vosarogo: “If you are a cassava farmer, think about planting now…The cassava-ethanol industry is on its way - that’s a certainty…Fiji will never be the same.”
Today in Biofuels Opinion: “It takes 21 cents of diesel per box to get it to the store, yet the value of corn in that box is less than seven cents. What do you think is the real driver of higher food prices?”
September 16, 2008
POET CEO Jeff Broin: “Just do the math. A semi can haul 4,200 boxes of corn flakes at a time, and with 10 ounces of corn in each box, that’s a total of 46.9 bushels of corn. At a $6 bushel, the corn in all 4,200 boxes has a value of $281.40. To haul those boxes 1,500 miles, however, would cost $881.25 with diesel priced at $4.70 per gallon. That means it takes 21 cents of diesel per box to get it to the store, yet the value of corn in that box is less than seven cents. What do you think is the real driver of higher food prices?”
US Agriculture Secretary Ed Schaefer: “The ethanol industry has incorporated the fact there are subsidies into their operational, financial models. I think that is a mistake. They are going to have to see a gradual step-down reduction in subsidies.”
Today in Biofuels Opinion: “It is readily apparent that the market does not believe that our (or the Street’s) estimates for 2009 are achievable.”
September 15, 2008
From the Renewable Fuels Association: “Given current ethanol production economic… it seems unlikely that 08/09 ethanol use will reach 4.1 billion bushels, as USDA projected in August. Other estimates place corn use for ethanol in 2008/09 closer to 3.8 billion bushels. It is also notable that USDA overestimated corn use for ethanol in the 2007/08 marketing year.”
Pavel Molchanov, energy analyst for Raymond James: “Given the current EPS/EBITDA valuations across much of the alternative energy sector, most notably the solar space, it is readily apparent that the market does not believe that our (or the Street’s) estimates for 2009 are achievable…The bulk of our alt energy universe still trades comfortably above book value…a sizable minority (five out of 17) now trade below book value - a rare situation historically in this sector. Not surprisingly, four of these five companies (Pacific, BioFuel, VeraSun, and Aventine) are ethanol producers…the market is implying that existing ethanol production capacity could be bought below replacement cost.”
Today in Biofuels Opinion: “Any outlet is good. Selling it for biofuel as an alternative market is valuable for us. All my crop is damaged.”
September 12, 2008
UK wheat farmer John Seymour on the weather-damaged English wheat crop: “Any outlet is good. Selling it for biofuel as an alternative market is valuable for us. All my crop is damaged. Some of it has started sprouting before it’s harvested, which is bad news. There will be very little milling wheat in the north of England. We’re desperately trying to beat the weather, and the clock.”
B J Maheshwari, the company secretary of India’s Dwarikesh Sugar Industries: “Like crude oil, ethanol prices should also be determined by market forces and not by any government or regulatory obligations. In the open market, the current realisation is at least Rs 2-3 higher than the contract price.”
Today in Biofuels Opinion: “Can biofuels find redemption? Yes, in three ways.”
September 11, 2008
G.B. Veerman, posting on the Sustainability Working Group page: “Can biofuels find redemption? Yes, in three ways: 1) if the industry can find ways to get people to pay attention to the complexities of the matter (which, if I’m being cynical, could be really tough); 2) as advanced biofuels made from abundant alternative plant sources (like wood waste, algae or other ag wastes) become commercially viable; 3) when regular, working-class folks decided renewable fuel is better than straight gas.”
Carl Hausmann, chief executive of Bunge North America: “I believe very much in free markets. … I hate government mandates, including biofuels.
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