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Old August 3rd, 2007, 03:00 AM   #21
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Ethanol from corn will not sustain American demand since it's takes alot of land to produce fuel and it also cost more to process corn into fuel compared to soybeans or sugarcane.

Also rising price of dairy products is linked to fuel production from corn.
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Old August 4th, 2007, 11:38 AM   #22
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INTERVIEW-Irish Bioverda eyes U.S./European biofuel push

LONDON, Aug 3 (Reuters) - Irish biofuels producer Bioverda plans a major expansion in the fast consolidating U.S. ethanol market but sees biodiesel as the future growth sector in Europe, chief executive John Mullins said on Friday.

Bioverda, a subsidiary of waste and renewable energy company NTR plc, has formed a joint venture with British billionaire Richard Branson's Virgin Group to invest in U.S.-based ethanol and expects to be a major player as the industry consolidates.

"The target for any ethanol player is one billion gallons (of production). We are looking at consolidation options in the United States," Mullins told Reuters in a phone interview.

He noted that the joint venture had initially invested in 200 million gallons of capacity.

Mullins added that the U.S. ethanol market had the potential to grow to 14 to 15 billion gallons a year.

Current U.S. ethanol capacity is around 6.4 billion and is set to hit 8 billion by the end of the year, according to industry group the Renewable Fuels Association.

"Players out there are looking to club together. If anyone thinks they can survive as a 200 million gallon player they need to rethink their strategy," he said.

Biofuels can be substituted for fossil fuels to cut emissions of greenhouse gases. Ethanol is normally made from grains and sugar crops while biodiesel uses vegetable oils and animal fats as feedstocks.

EUROPEAN BIODIESEL

In Europe, however, Bioverda's investments will be in biodiesel plants.

"We are very hesistant to get into ethanol in a European context. You can't readily compete with Brazilian sugarcane or with corn from the United States. European ethanol will need substantial subsidies," he said.

Bioverda already has two biodiesel plants in Germany and has announced plans to build a 200,000 tonne annual capacity biodiesel plant in Teesside, northeast England with an accompanying rapeseed crushing facility.

Mullins said the company hopes to complete financing of the project by the end of the year with the plant set to be finished in late 2008 or the first quarter of 2009.

The feedstocks will be rapeseed oil and soyabean oil.

"We have no intention of using palm (oil)," he said.

Mullins said the company was also looking at two other biodiesel projects in England, one on the west coast and the other on the east coast, both with annual capacities of 150,000 to 200,000 tonnes.

"Our view is to get two (English) plants in commission in 2009 and maybe one in 2010," he said.

GERMAN RECOVERY

Mullins also expected an improvement in the once-booming German biodiesel market which has suffered major setbacks this year from higher government taxes and subsidised U.S. imports.

"What we see is an improved regulatory position and the elimination of the B99 effect," he said, referring to a U.S. tax credit available for a blend of 99 percent biodiesel and just one percent fossil fuel.

Mullins said U.S. lawmakers were looking to end the credit and European Union customs officials were also looking more stringently at imports.

"I think it is going to get closed off," he said.

Bioverda is also investing in Ireland with a 200,000 tonne biodiesel plant planned for Cork Harbour, relying for its feedstock largely on imported Argentine soybean oil.

The company also has a 50,000 tonnes capacity biodiesel plant in Ireland through a joint venture with a meat company which uses tallow as its feedstock.

Mullins said the company is looking at investing in an offshore jatropha crushing facility in partnership with private equity investors.

Jatropha is a non-food crop which can be grown on semi-arid land and supporters believe it will play a major role as growing demand for food and an anticipated shortage of water linked to climate change limit available agricultural land.

"Jatropha will certainly play a role but it may not be for three to five years," he said.
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Old August 6th, 2007, 09:13 AM   #23
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Bioenergy conference: South tries to emerge as biofuel breadbasket of U.S.
2 August 2007

TIFTON, Ga. (AP) - The brightly painted vehicles lined up outside the Southeastern Bioenergy Conference seemed like they were built to run off of a suburban grocery list.

There was the newspaper delivery car that runs on corn. The sedans that run on peach and watermelon juice. And the gleaming tractors fueled by peanuts, poultry fat, soy and cotton.

All were on display at the annual convention, which attracted hundreds of biofuel entrepreneurs, industry analysts and government officials looking for ways for the Southeast to emerge as a rival to the Midwest as the nation's biofuels breadbasket.

"There's tremendous potential for Georgia and the Southeast to become a hub for alternative fuels," said Bill Boone, the director of Georgia's Agriculture Innovation Center and one of the conference organizers. "People are out there looking for a place to invest their money. The question is how we deal with them."

The three-day conference tries to provide them with an answer.

At information sessions, scientists touted fuel blends they hoped could prove both economic and efficient, while state agencies explained to venture capitalists how they could apply for tax breaks and grants. Bands of investors ventured through rows of tables and listened to pitches from environmental lawyers, bureaucrats and startup companies on how best to spend their money.

The nation's biofuel market has long centered on the Midwest, where corn growers make up the backbone of a mature ethanol industry. But as technology yields new ways to extract energy out of biomass -- from wood chips and sawdust to fruit waste -- the South sees an opportunity.

"We're moving from the Grain Belt to the Biomass Belt. And the Southeast in general has a lot of biomass potential," said Jill Stuckey, Georgia's director of alternative fuels.

Southern states have already shown signs of opening their arms to alternative fuels, spurred in part by gas shortages after Hurricanes Rita and Katrina led to a sharp rise in fuel prices.

Georgia Gov. Sonny Perdue pitched a plan this week to create a corridor of alternative fuel pumps along Interstate 75 and recently announced a $225 million venture to build the first wood-based ethanol plant in the state.

Mississippi now offers up to $6 million in incentives to ethanol or biodiesel plants built in the state, while Tennessee's governor has supported spending $70 million of the state budget to develop alternative fuels.

Alabama is switching its fleet of vehicles to run on ethanol, and Florida Gov. Charlie Crist has set stringent emissions standards to try and force companies to seek energy sources beyond oil, natural gas and coal.

Despite these signs from state leaders, many of the rank-and-file biofuel boosters expressed a sort of loneliness about their efforts.

Robert Hawsey, the director of Oak Ridge National Laboratory's renewable energy program, drew laughs when he said it took a 10-minute call to Georgia's tourism hot line to locate one of the seven gas stations in the state selling ethanol blends. For much of the conversation, he said, he was "trying to explain what E-85 was" to the receptionist on the other end of the line.

And Linda Smyth, the president of Middle Georgia Clean Cities Coalition, compared her pursuit of biodiesel fuels in her hometown of Macon to an addiction.

"I have a biodiesel dependency. I drive to the very bad side of town to get biodiesel," she quipped. "And I only pay top dollar."

Perhaps that was another purpose of the conference: To provide kinship and encouragement to these pioneers of biofuel in the South.

Participants bonded at attractions, peppered each other with questions and returned from each event with a list of fresh phone numbers and e-mail addresses.

"It may have been a lonely fight in the past, but it's getting hard to say that now," said Craig Kvien, a University of Georgia scientist who helped organize the conference. "You've got to start somewhere."
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Old August 7th, 2007, 06:18 AM   #24
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Nope. The farms won't catch up, so they would export from Latin America.
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Old August 7th, 2007, 02:01 PM   #25
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ANALYSIS-Japan oil firms should invest in ethanol, not ETBE

TOKYO, Aug 7 (Reuters) - Japan's oil industry may squander billions of dollars by promoting a less ambitious renewable fuel than the ethanol-mix alternatives favoured by other countries.

Massive investment will be needed on either a facility for gasoline mixed directly with plant-origin ethanol, the option being followed by other countries, or the oil industry's favoured partly oil-based additive of ethyl tertiary butyl ether (ETBE).

With Japan well behind its emissions target under the Kyoto Protocol and tougher goals likely to be introduced after the pact's first phase ends in 2012, some analysts say oil firms could be stuck with infrastructure that cannot be upgraded beyond the 3 percent of biomass ethanol used in ETBE.

"What look like cheap bargains now would be costly in the end," said Tetsunari Iida, executive director at the Institute for Sustainable Energy Policies in Tokyo.

Unlike pure ethanol, ETBE has low water solubility and low vapour pressure and can be stored and transported as gasoline. But it is not as efficient in reducing emissions.

With the government failing to provide a lead, the incentive for oil firms to favour ETBE is clear: infrastructure to manufacture and distribute ETBE-blended gasoline could initially cost half of that to sell a mix of 3 percent ethanol, or E3.

ETBE would allow refiners to reuse facilities for production of additive methyl tertiary butyl ether (MTBE) -- phased out since 2001 -- and utilise isobutane, a by-product of the refining process, without changing their existing distribution systems.

"ETBE-blended gasoline is easier to handle in the circulation network," said a spokesman for Nippon Oil Corp.

COSTLY ETBE

A recent study by the Institute of Energy Economics in Japan showed the oil industry would have to spend about 300 billion yen ($2.54 billion) in order to ensure its petrol stations, tanks and terminals can handle E3 gasoline.

By contrast, the initial investment cost for replacing Japan's entire gasoline supply -- the third-largest in the world at 1 million barrels a day -- with gasoline that includes 7 percent ETBE would be around 150 billion yen.

In resource-poor Japan, ETBE is currently supplied by Lyondell Chemical Co. from Europe, although domestic refiners are looking into the feasibility of producing more at home or in Brazil, a major producer of sugar-origin ethanol.

On top of the investment costs, using ETBE would help oil firms retain their share of the shrinking domestic fuels market, making it even more difficult for Tokyo to move toward the 10 percent ethanol mix favoured in some Western countries.

Some industry officials believe a push toward greener fuels is inevitable as Japan struggles to rein in greenhouse gas emissions. If so, it will be difficult to do that with ETBE, meaning the industry could be forced to invest a second time.

For ETBE gasoline to achieve the same level of ethanol content as E10, the fuel would need to contain 22 percent ETBE.

For the moment, Tokyo's official line on biofuel is unclear, as bickering between different government departments has stymied the formation of a coherent government biofuel policy.

The trade ministry, which includes energy policy, began a subsidised two-year test sale of ETBE-mixed gasoline in April, while the environment ministry is backing a five-year plan to test sell E3 that starts later this month in Osaka.

Refiners such as Nippon Oil and Idemitsu Kosan Co. Ltd. hope to sell 12 million kl (207,000 bpd) of the 7 percent mix nationwide in 2010, up from this year's preliminary 170,000 kl.

AUTO MAKERS LEAD

At a time of intensifying competition for food-or-fuel crops such as sugar and corn, the oil industry's argument against putting additional strain on agricultural resources has some traction.

"Bio-ethanol is good as it is carbon neutral. But it eats into food output and is feared to damage environment and cause water shortage," a trade ministry official said.

But in the interim, the country's world-beating auto makers are leading the way to lower CO2 emissions.

Toyota Motor Corp. and Honda Motor Co. Ltd. are already selling cars capable of consuming motor fuel with up to 10 percent of ethanol (E10) in Japan, as they gear production toward export markets demanding greater flexibility.

"Since auto makers have moved in that direction, I don't think the oil industry has many other choices," said Hiroshi Shiraiwa, director of the Washington-based International Food & Agricultural Trade Policy Council.

Toyota has said it believes E10 could be introduced in Japan some time around 2020.

"I think Japan will eventually choose gasoline directly blended with bioethanol," Nobutaka Morimitsu of Toyota's energy affairs department told Reuters. ($1=118.27 Yen)
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Old August 9th, 2007, 07:48 PM   #26
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Of course it CAN, question is if there is any will and if it's really a much better option...
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Old August 11th, 2007, 07:08 AM   #27
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Japan looks to turn straw into biofuel amid price crunch

TOKYO, Aug 9, 2007 (AFP) - Japan will study turning inedible crops such as straw into biofuel to run cars amid concern that the growing popularity of ethanol is inflating food prices, an official said Friday.

Biofuels are seen as alternative clean energy resource which can reduce the dependence on Middle Eastern oil and lessen the impact on global warming.

One biofuel, ethanol, is derived from sugar beets, wheat, corn or sugarcane, leading to concern that reliance on it will push up food prices.

Japan's Ministry of Agriculture, Forestry and Fisheries will seek a budget of several million dollars to demonstrate that biofuel can be made from rice straw and chaff.

"We already have the technology to make ethanol from straw and chaff, but we've only succeeded at the laboratory level," said Eiichiro Kitamura, the official in charge of the project.

"What we are trying to do is to collect straw and chaff on a relatively large scale in a local community to make biofuel and then use it for the first time for vehicles and other uses," he told AFP.

Through the experiment, the ministry will also aim to gather information on whether it is economically effective to make biofuel from inedible crops, he said.

Rising world reliance on biofuels over the next decade threatens to drive up food prices in poor countries, where they are already facing upward pressure from consumer demand, a joint report by the Food and Agricultural Organisation and the Organisation for Economic Cooperation and Development said last month.

"If we can use biofuels from inedible parts of crops, then markets for biofuels and markets for foods would not have to compete," Kitamura said.

The budget request will be submitted to the Ministry of Finance for the next fiscal year starting April, and the final budgetary plan will need to be approved by parliament later in the current fiscal year.
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Old August 11th, 2007, 02:40 PM   #28
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the real solution is hydrogen
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Old August 13th, 2007, 12:52 AM   #29
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I also don't see ethanol as a solution at all, I see it more as a problem.
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Old August 13th, 2007, 08:49 AM   #30
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Ethanol may make food prices explode...that's my gripe with them.

Well, that, and the fact that the ethanol additive in gasoline makes the price rise slightly.
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Old December 13th, 2007, 06:31 PM   #31
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High costs to squeeze U.S. ethanol makers in 2008

CHICAGO, Dec 10 (Reuters) - Tight margins amid high corn and energy costs and weak ethanol prices will squeeze U.S. ethanol producers in 2008, but the industry will continue to expand, albeit at a slower rate than in recent years, industry experts said on Monday.

A rapid expansion of U.S. ethanol output over the past year and the lack of comparable growth in the infrastructure necessary to get that fuel to market has produced a glut of the renewable fuel in the Midwest, where most of it is produced.

That glut may cap ethanol prices in 2008 while input costs for producers remain high due to other market factors.

"The short term outlook is not good for the ethanol plant," Marty Ruikka, president of analytical firm PRX Geographic Inc, said at a National Grain and Feed Association conference in Chicago.

"We need the retail/wholesale distribution chains of motor fuel to get more capacity so that we can use all the ethanol that we have. It's not because of market prices that we have a problem right now. It's because of physical, capital, structural capacity," Ruikka said.

Average weekly U.S. ethanol margins slipped last week to about 52 cents a gallon, from 62 cents the previous week. After fuel, conversion, and overhead costs, many producers were barely breaking even.

U.S. ethanol production capacity has risen to nearly 7.3 billion gallons per year, up about 40 percent from a year ago, according to industry statistics.

Corn is the primary feedstock for U.S. ethanol producers, who also use natural gas to run plants and dry the byproduct distillers grain, which is used as animal feed.

Corn prices jumped to a 10-year high of $4.37-1/4 per bushel in February due to rising demand from ethanol producers and have remained above $3 ever since. Analysts expect strong demand for corn and the battle with soybeans for U.S. acreage to lift corn prices to $4.50 or $5.00 a bushel in 2008.

Meanwhile, natural gas prices, another key input cost for ethanol producers, have held at elevated levels along with other energy prices.

MORE PLANTS, SLOWER OUTPUT

The once booming ethanol sector, which at one point boasted a new plant groundbreaking every four days, may deal with its growing pains by slowing its expansion and paring back output at existing plants, analysts said.

There are 134 ethanol distilleries currently operating in the United States, with 66 more plants under construction and 10 undergoing expansion. Analysts warn that thinning profits will likely shelve or delay many of those future projects.

"We're starting to see some schedule slippage. A year ago, everybody was spending the maximum amount on overtime to get these plants built. Today, we don't see that urgency," Ruikka said.

On Monday, Pacific Ethanol Inc. said it suspended building a 50 million gallon per year plant until margins improve. That followed news this fall that VeraSun , Glacial Lakes Energy and Chippewa Valley Ethanol Co had delayed projects.

The ethanol sector could also become more consolidated as larger companies can keep down their transportation costs and other costs that could squeeze smaller producers.

Last month, VeraSun announced it would acquire US BioEnergy Corp in a deal expected to close in the first quarter of 2008.

More government incentives, transportation improvements and blending of more ethanol into the gasoline supply will help bolster profitability in the longer term, analysts said.
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Old December 14th, 2007, 07:34 AM   #32
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Ethanol from corn? **** no.

Ethanol from algae? **** yes!!!
the only way i see ethanol working on a widespread basis is with algae.
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Old December 14th, 2007, 10:50 AM   #33
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Originally Posted by xXFallenXx View Post
Ethanol from corn? **** no.

Ethanol from algae? **** yes!!!
the only way i see ethanol working on a widespread basis is with algae.
It's easier to collect bio-diesel from algae than ethanol since some algae species theoretically contains up to 60% of it's mass.

Here is a chart showing the top 5 in term of yeild
Crop kg oil/ha litres oil/ha lbs oil/acre US gal/acre
Algae (theoretical yield)** 39,916 47,500 35,613 5,000
Algae (actual yield)* 6,894 7,660 6,151 819
Chinese tallow 5,500 6,545 4,912 699
oil palm 5,000 5,950 4,465 635
coconut 2,260 2,689 2,018 287
avocado 2,217 2,638 1,980 282

* Actual biomass algae yields from field trials conducted during the NREL's aquatic species program, converted using the actual oil content of the algae species grown in the specific trials.
** Algae yields are projected based on the sustainable average biomass yields of the NREL's aquatic species program, and an assumed oil content of 60%.

Algaculture

From 1978 to 1996, the U.S. National Renewable Energy Laboratory experimented with using algae as a biodiesel source in the "Aquatic Species Program".[46] A self-published article by Michael Briggs, at the UNH Biodiesel Group, offers estimates for the realistic replacement of all vehicular fuel with biodiesel by utilizing algae that have a natural oil content greater than 50%, which Briggs suggests can be grown on algae ponds at wastewater treatment plants.[38] This oil-rich algae can then be extracted from the system and processed into biodiesel, with the dried remainder further reprocessed to create ethanol.
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Old December 15th, 2007, 01:16 AM   #34
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I'm not sure why this is a particular American issue thread, i think any western country is as oil dependent as the United States. Look at Italy, truckers strike for three days, and almost all supermarkets are empty, and most gas stations ran out of gas. The whole chain is so fragile these days. Imagine if truckers would have striked all week. It puts a country in chaos.
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Old December 17th, 2007, 06:53 AM   #35
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they discussed this last week on Coast to Coast am - fascinating program

when Brazil embraced ethanol in the 70's people bawlked at them now they wish they could be where Brazil is
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Old December 17th, 2007, 09:06 AM   #36
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the real solution is hydrogen
No, it is EV
Liquid = Charge is not possible while running
i - MiEV 2009 release
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Old December 17th, 2007, 09:09 AM   #37
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they discussed this last week on Coast to Coast am - fascinating program

when Brazil embraced ethanol in the 70's people bawlked at them now they wish they could be where Brazil is
you are right!
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Old December 19th, 2007, 04:26 AM   #38
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ANALYSIS - Battered ethanol stocks saved by energy bill

NEW YORK, Dec 18 (Reuters) - The new U.S. energy bill that will prop up the battered ethanol industry has triggered a rebound in the shares of ethanol makers, but hurdles to growth and volatile commmodity prices will keep them on rocky path into 2008.

Shares in VeraSun Energy have rallied 58 percent since November 20, while U.S. BioEnergy Corp has jumped 90 percent, Aventine Renewable Energy Holdings Inc 49 percent and Pacific Ethanol Inc 73 percent.

"We've seen Congress telegraphing their intent to raise the (usage mandates). It's been very positive for the ethanol stocks," said Kevin Book, analyst with Friedman, Billings, Ramsey.

"What we don't know is if these are long-term believers ... or fast money looking for a buck," Book said. "The Cramer effect is just waiting to happen here," he added, referring to popular stock picker Jim Cramer whose recommendations can drive a company's stock sharply higher.

The U.S. House of Representatives on Tuesday passed an energy bill that expands the annual mandate for U.S.-grown biofuels, including ethanol, to 36 billion gallons in 2022 from the current level of about 6.5 billion gallons.

The White House has said President George W. Bush will sign the bill into law on Wednesday.

Even with the recent rally, ethanol company stocks remain down between about 25 to 50 percent since the end of 2006 as profit margins for the fuel faded because of a supply glut from the fleet of newly constructed plants.

Analysts remain bullish on the sector for the longer term, but expect those companies' share prices to remain choppy in 2008, largely because of the volatile price of corn, the main source of the fuel.

"Corn prices are likely to remain high. On the other hand, ethanol prices are likely to go higher as well," said Kelly Dougherty, analyst with Calyon Securities.

The new energy bill will offer investors more certainty that the government will continue to support the nascent industry, and could attract more private funding to improve the transportation infrastructure that has prevented ethanol from extending its reach outside the corn-growing regions.

"There is more visibility in the market, which should help," Dougherty said.

A year-ago, ethanol was widely hailed an antidote to the U.S. addiction to foreign oil and a tool toward cutting carbon dioxide emissions.

But that glow faded because of the 40 percent jump in production capacity to 7.4 billion gallons per year that depressed margins, a subsequent rise in food prices that has been blamed on the industry's huge appetite for corn and only modest carbon reductions compared to traditional oil refining.

The industry also needs to improve the efficiency at its production plants at the same time it develops the next generation of fuel technology, including cellulosic-based sources such as switch grass.

For now, ethanol makers' stocks will depend largely on whether volatile commodity prices keep gasoline prices high enough to cover the high corn costs.

The surge in oil prices to more than $90 a barrel this year has helped make ethanol more competitive, even as corn prices rallied to record levels above $4 per bushel.

"You're exposing yourself to risk in a real unprecedented way," Book said. "It's a great (investment) idea, but not for the faint hearted."
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Old January 15th, 2008, 06:39 AM   #39
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Biomass will add to US ethanol pool in 2-3 years

CHICAGO, Jan 14 (Reuters) - The first commercial-scale cellulosic ethanol plants should come on line by late 2009 or early 2010, and the industry remains poised to meet a U.S. government goal to increase biofuels use five-fold by 2022, the head of a leading energy crop company said on Monday.

"We should see the first commercial-scale plants coming on line in late-2009, early-2010," said Richard Hamilton, President and CEO of California-based Ceres, speaking at the Reuters Global Agriculture and Biofuels Summit.

Widely touted as the future of biofuels production, cellulosic ethanol is made from non-food sources such as wood chips or plant stalks and leaves.

Ceres develops high biomass yielding crops such as switchgrass and miscanthus for future use as dedicated energy crops.

The majority of ethanol produced in the United States is currently made from corn grain. It currently costs at least twice as much to make ethanol from cellulosic feedstocks than from corn.

Those high costs have thus far limited expansion of cellulosic technology beyond the demonstration phase, but an injection of government funding has sped the process in recent months.

The U.S. Department of Energy rolled out about $1.1 billion in funds to research bioenergy and build six commercial-scale biorefineries to help achieve the goal of increasing renewable fuels use to 36 billion gallons over the next 15 years.

Some or all of those six plants should be up and running in about two years, Hamilton said.

Those and other first generation plants will be small and costly to operate, but later generations will be much larger and much more efficient, he said.

"I sometimes refer to a cellulosic biorefinery as the ultimate flat-screen TV. The first few that roll off the assembly line are pretty expensive, but the costs come down once they shake out those operating costs," Hamilton said.
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Old January 16th, 2008, 04:55 AM   #40
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US ethanol expansion cooling next 18 months
14 January 2008

CHICAGO (Reuters) - U.S. corn-based ethanol expansion is headed for a cooling-off period over the next 18 months until demand catches up with supply, said a senior executive of leading agricultural research firm Informa Economics on Monday.

"Once you get past this current spurt, we are going to see a little bit of a leveling-off, a much lower rate of increase in capacity expansion in the United States," Scott Richman, senior vice president of Memphis-based Informa, told the Reuters Global Agricultural and Biofuel Summit.

Over the past two years the U.S. ethanol industry has grown dramatically amid an influx of Wall Street capital to build refineries, meeting government mandates to wean Americans from foreign oil and the demand from the petroleum industry for a clean-burning fuel additive.

U.S. ethanol capacity rose to 7.6 billion gallons in 2007, up 41 percent from the year before. More plants are expected to come on line, representing an additional capacity of up to 5.7 billion gallons, according to the Renewable Fuels Association, an industry trade group.

The net effect has been a build-up of ethanol inventory. Additionally, ethanol profit margins have fallen, depressed by historically high corn prices, now above $5 a bushel on the Chicago Board of Trade, and only a modest rise in ethanol prices over the past couple months to $2-$2.50 a gallon.

"I think it's going to return to a more normal type of environment where supply and demand are basically growing apace ... it's just we probably have another 18 months or so of additional supply and trying to open up new demand centers," Richman said.

The new U.S. Energy Bill, calling for biofuel production to jump five-fold to 36 billion gallons by 2022, should drive demand over the long haul. There also is hope that new markets developing in the U.S. Southeast will spur bigger sales in the years ahead.

"The industry will be built and the financing won't be flowing quite as quickly as it has been these last few years. I think you're going to see the growth in ethanol consumption and the growth in ethanol production be more in line," Richman said. (For summit blog: http://summitnotebook.reuters.com/ )
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