Submitted by DTN Ethanol Blog
Congress plans to extend a tariff on imported ethanol as the biofuel’s defenders face more critics. President Bush, however, said Tuesday he remains steadfast in his support of ethanol production. Coskata Selects Pa. for Demonstration Ethanol Plant |
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Submitted by DTN Ethanol Blog
| Texas Gov. Rick Perry’s office says it fears that use of corn-based ethanol is driving up food prices, and therefore, the governor is considering seeking an exemption to a national standard that requires renewable fuels use.
Ethanol Plants Cut Water, Energy Use |
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Submitted by DTN Ethanol Blog
I live in Missouri, and I’ve noticed gasoline prices around here are always considerably less than the national
Submitted by DTN Ethanol Blog
| Crude oil seems to have no trouble moving higher and higer. That may mean $4.00 per gallon gasoline isn’t far behind, according to DTN’s Man on the Floor of the CBOT and CME Gary Wilhelmi.
Center Ethanol’s Illinois Plant Begins Start-up Pacific Ethanol Idaho Plant Begins Operations |
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Submitted by DTN Ethanol Blog
| Center Ethanol LLC’s 54-million-gallon-per-year ethanol production plant in Sauget, Ill., began operations Tuesday, a company spokesman said Wednesday.
Pacific Ethanol Idaho Plant Begins Operations Experts Differ on Food Inflation |
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Submitted by DTN Ethanol Blog
| DTN’s Man on the Floor of the CBOT and CME Gary Wilhelmi is noting some confluence problems in the factors that form value in the crude oil market.
Experts Differ on Food Inflation Green Plains Closes Merger with Great Lakes Cooperative POET to Use Methane as Energy Source at S.D. Ethanol Plant |
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Submitted by Biofuels Digest Blog
Top Story:In Iowa, Green Plains Renewable Energy received a $2.19 million grant from the Iowa Power Fund for algae-related development. Details over licensing and royalties remain to be worked out in coming weeks. The grant will fund 75 percent of a $2.8 million, 195-day algae production trial that will produce 1.6 tons of algae biomass. A second phase costing $4.2 million would produce a half-ton per week of algae biomass, and a third phase costing $80 million for a commercial scale plant would produce 1700 pounds per hectare per day of biomass.
World Opinion:The New York Times writes in an editorial that “Rising food prices provide an urgent argument to nix ethanol’s supports,” noting that “At best, corn ethanol delivers only a small reduction in greenhouse gases compared with gasoline. And it could make things far worse if it leads to more farming in forests and grasslands.”
US News and World Report notes that panic among national leaders is scuttling trade that holds down food prices, “Countries in Asia and South America are clamping down on exports or banning them, often at the behest of panic-stricken leaders worried about inflation….In a sense, the unfolding scene is a sort of “prisoner’s dilemma” known in game theory: Individuals (and individual countries) are moving to protect their own interests—”defecting” rather than cooperating—as supplies become more precious.”
The Chief Innovation Officer of Dupont, Thomas Connelley, interviewed in The Hindu, said “We recognised that the future of bio-based space will be constrained by the limitation of carbon from food crops….I should say we anticipated the direction but not the speed at which we would reach there.”
AFP reports on a letter from UK Prime Minister Gordon Brown to Japanese prime minister Yasuo Fukuda: “There is growing consensus that we need urgently to examine the impact on food prices of different kinds and production methods of biofuels.” Brown called for a “a WTO trade deal that provides greater poor country access to developed country markets.”
Producer News:
In California, Tellurian Biodiesel entered into a JV with Golden State Foods to obtain used cooking oil for biodiesel production. The New Encore venture will produce the biodiesel at a 5 Mgy production plant that will market the biodiesel to trucking companies, municip[al fleets and to Golden State Foods.
In Delaware, O2Diesel Corporation announced the acquisition of acquire of YellTec, a German biofuels distributor specializing in small to medium sized truck fleets with sales of $50 million. Terms were not disclosed.
The Iowa Power Fund Board delayed its decision on a $20 million request for the POET Project Liberty cellulosic ethanol project at Emmetsburg, saying the Fund did not have enough cash. The Fund received $25 million for 2008 from the Iowa State Legislature.
International News:
In Australia, the Manildra plant in Nowra and a plant in Shoalhaven will double production as New South Wales develops a network to support its 2011 target of 10 percent renewable fuel mandate.
In the Dominican Republic, Globasol announced a $30 million investment in a 18 Mgy jatropha biodiesel plant in Azua province to supply fuel for the group’s hotel chain Globalia.
In Laos, Mitr Phol Group announced a $125 million investment in an ethanol plant, 48,000 acre sugarcane plantation and sugar mill. Location and capacity of the plant were not disclosed.
Research News:
NPR’s Science Friday will air an update on biofuels research tomorrow, with calls acceptted from 2-4 EDT. In this week’s segment, George Huber, of the University of Massachusetts at Amherst, reports on green gasoline, highlighted earlier this week in Biofuels Digest. Also, Miriam Sticklen of Michigan State University will highlight work on enzymes from cattle used for cellulosic ethanol and Percival Zhang of Virginia Tech will relate developments in producing hydrogen gas from biomass.
Policy and Policymakers:
The European Environment Agency Scientific Committee has called on the EU to suspend the 10 percent biofuels target for 2020 and instead conduct a comprehensive scientific study on the environmental risks and benefits of biofuels.
Consumer and Fleet News:
In Florida, Kinder Morgan’s Central Florida Pipeline will commence delivering ethanol by pipeline between the Port of Tampa and Orlando Airport. The first test batch will be delivered in the third quarter after replacement of pumps, seals, and gaskets, to a 23 million gallon storage facility established in Orlando.
Financial News:
In New York, trading of New York Harbor ethanol futures commenced on the New York Mercantile Exchange, the first physical ethanol futures contract. The Chicago and New York futures launched last year did not have a physically delivered contract.
The Biofuels Digest Index™ (BDI), a basket of public biofuels stocks, gained 0.59 percent to close at 120.32 as ethanol drops offset gains by small caps diversified agribusiness. For the day, Archer Daniels Midland (ADM) rose 0.90 percent to close at $43.62, while among ethanol stocks, Aventine Renewable Energy (AVR) fell 10.18 percent to $4.50 as corn reached $6 per bushel. Among small caps, Green Shift (GERS.OB) gained 5.38 percent to close at $0.137 and Green Energy Resources (GRGR.PK) rose 8.33 percent to $0.13. Overall, advances and declines were even for the day.
Submitted by Biofuels Digest Blog
Top Story:
The UN secretary-general, Ban Ki-moon, has called for a review of land-use conversion by biofuel producers, in response to the global increase in food prices. Ban, who placed climate change at the top of the UN agenda, is responding to internal pressure from UN food agencies facing a crisis over rising prices. The Guardian reports that some senion UN officials are attacking the Secretary-General for being “out of touch” and not knowing “what is really going on in our agencies”. Ban said “This steeply rising food price is a new phenomenon,” he said. “We have only seven years left to meet the target of 2015,” referring to the Millenium Development Goal of halving global hunger by 2015, adding “This is very serious.”
World Opinion:
The Financial Post reports that “prices of staples have jumped 80% since 2005…..Factors behind the surge in prices are varied, including bad weather in some regions, soaring demand from growing populations, and US$100-a-barrel oil…..But no factor gets more consistent credit for food price turmoil than the international biofuels stampede….Warnings that ethanol programs, brought on by absurd national energy policies and myths about reducing the risk of climate change, could severely disturb food production and prices, have been issued for years. Now that the consequences have materialized, a new policy stampede is in the making.”
Opednews.com ran a post suggesting “The problem with programs like carbon sequestering and bio-fuel production is that they are treatments for symptoms, not treatments for the disease that caused the symptoms.”
Canadafreepress.com writes from the anti-climate change consensus point of view, “There is absolutely no need for biofuels and especially ethanol to stop global warming or climate change. Environmentalism exploited for political purposes is the short answer. Sadly, biofuels are just the beginning. Other madness includes the carbon credit shell game that does nothing to reduce CO2; the myth that fossil fuel resources are running out; the myth of the viability of other alternative energies; the myth that pollution problems are getting worse in most of the world; the erroneous belief that CO2 is a pollutant.”
The Times of India interviewed the chief of the UN Energy and UN Industrial Development Organisation (UNIDO), Kandeh K Yumkella, who said “There is a close link between energy poverty and income poverty. Modern bio-energy could make energy more widely and cheaply available in remote areas, supporting productivity growth in agriculture and other sectors with positive implications for food availability and access.
In the Oregonian, a team from Cascadia Capital writes “Alternative fuels can deliver robust returns if investors focus on the right capital and technology efficiencies, and second, we must find a way to unlock alternative fuels’ potential given soaring oil prices and an uncertain economy…Waste or waste byproducts are the most sensible alternative fuel inputs…Despite several misguided stumbles, we are still believers and look forward to the revenue and profits that Biofuel 2.0 is certainly capable of generating.”
Laverne Chadderdon writes in Highlands Today that as “retail bakers of America complain that ethanol makers burn up our food supply and jack up the price of bread…which form of ethanol production is the U.S. government and its taxpayers subsidizing? Corn, of course. On which form of ethanol production does the United States levy a 53 cents a gallon import? Sugar cane, naturally.”
Producer News:In North Dakota, farmers are taking lands back from the Conservation Reserve Program to put them back into production. “Last fall,” according to the New York Times, “they took back as many acres as are in Rhode Island and Delaware combined.” Farmers say that government payment for grasslands in the program “aren’t even comparable anymore” to the revenue potential from returning the land to production to provide livestock feed.
In Louisiana, Verenium will move from development to startup phase at its demonstration-scale cellulosic ethanol plant in Jennings. The company’s plan is to move into construction of its first generation of plants following cost model validation at the demonstration-scale plant, with completion of its commercial-scale facility in 2010.
The Securities and Exchange Commission suspended trading in the stock of Alternative Energy Technology Center to complete an investigation of statements made in press releases and email regarding the company’s ownership of cellulosic ethanol technology attributed to Meridian Biorefining. The company’s shares are scheduled to resume trading on April 15.
In Idaho, Pacific Ethanol is nearing launch of its 60 Mgy corn ethanol plant in Burley. The company hopes to supply the entire ethanol demand for Idaho from the plant, as well as up to 500,000 tons of distillers grains for livestock feed.
International News:In Australia, the state premier has requested State Departments to use more ethanol after it was revealed that only his own department met the government’s 2 percent biofuel target in February. “I can’t expect industry to the right thing if Government doesn’t lead the way,” New South Wales Premier Morris Iemma said.
In Malaysia, Dubai Group invested $49.5 million for a 30% stake in GBD Investment. GBD has started production at a 200,000 metric ton biodiesel plant at Lahad Datu in the Malaysian state of Sabah.
In England, D1 Oils completed a $32 million capital raise, primarily from existing shareholders, and said it would exit the UK biodiesel refining business and concentrate on its plantation and science businesses, including its JV with BP. “We believe that UK (biodiesel) demand will largely be met by subsidized US imports. We do not see the UK as offering a viable location for refining and trading to meet domestic demand for the foreseeable future,” the company said in a statement. The company will close or sell its two UK plants, affecting 80 staff.
Research News:In Illinois, researchers announced the discovery that new enzymes, able to be grown in corn, will break down plant cellulose for ethanol production. Typical enzymes are grown in energy-intensive bioreactors, and are a significant cost factor in cellulosic ethanol.
Policy and Policymakers:The National Center for Policy Analysis released a study concluding that US policymakers should study Brazil’s oil production efforts, rather than ethanol production, in order to reduce US dependence on foreign oil. “The facts about Brazil’s energy policy are often misrepresented,” said NCPA Graduate Student Fellow D. Sean Shurtleff, the paper’s author.
Consumer and Fleet News:The Energy Information Administration said that US gasoline demand is dropping, and will decline up to 3.5 million gallons per day this summer, compared to 2007 according to EIA Administrator Guy Caruso. “Personal disposable income in the period rose by an estimated 0.3%, while gasoline prices rose 31.8% from a year earlier, to average $3.11 a gallon,” said the EIA report.
Financial News:The Biofuels Digest Index™ (BDI), a basket of public biofuels stocks, gained 0.01 percent to close at 119.62 as ethanol weakness balanced gains by diversified agribusiness. For the day, Archer Daniels Midland (ADM) gained 0.19 percent to close at $43.23, while The Andersons (ANDE) rose 1.84 percent to close at $44.34. Among ethanol stocks, VeraSun Energy (VSE) fell 7.09 percent to close at $7.99. Among small caps, Green Shift (GERS.OB) gained 8.33 percent to close at $0.13. Overall, advances and declines were even for the day.
Submitted by Biofuels Digest Blog
Top Story:
In Massachusetts, a group of researchers at the University of Massachusetts announced, in the latest edition of Chemistry & Sustainability, Energy & Materials, a new “green gasoline” process that directly converts plant cellulose into the chemical components of gasoline, while a companion article by researchers at the University of Wisconsin reported on a “green gasoline” process that yielded the chemical components of jet fuel in an integrated process. In Texas, Sustainable Power Corporation, a pioneer in the catalyst-based production of bio-crude, said that the president of the Central American Parliament (Parlacen) had joined the company’s board and would be on hand Wednesday to announce a major expansion of the company’s biocrude production capacity in Guatemala.
World Opinion:
New York Times Op-Ed Columnist Paul Krugman in “Grains Gone Wild” writes that “The subsidized conversion of crops into fuel was supposed to promote energy independence and help limit global warming. But this promise was, as Time magazine bluntly put it, a “scam.” You might put it this way: people are starving in Africa so that American politicians can court votes in farm states.” Krugman is less sure about alternatives, offering a suggestion that there be more aid to the U.N.’s World Food Program, an undefined “pushback against biofuels”, and the bromide that “cheap food, like cheap oil, may be a thing of the past.”
The Star reports that the price of rice has reached $760 per tonne, and that “For 3 billion people around the world that was the most important news report of today and will almost certainly be the most important story for years to come….Just a few weeks ago, its price was one-third lower at $580 a tonne. The higher the price of rice, the less gets eaten by those now spending 50 to 70 per cent of their meagre incomes on food.” The post is of importance, despite the fact that except in small test projects in Japan, rice is not converted into biofuels. Is this a knock-on effect from the increasing presence of speculators in food commodities? As carry-through from shortages in other staple foods such as wheat, that have caused consumers to turn to rice? A knock-on effect of biofuel production?
A most interesting argument on the “paradox of production” appears in the Archdruid Report, pointing out that “every other energy source currently used in modern societies gets a substantial “energy subsidy” from oil…..the energy used in uranium mining and reactor construction, for example, comes from diesel rather than nuclear power, just as sunlight doesn’t make solar panels.
Liberty Maven wrote that ethanol has “nine strikes” and “retired the side”, saying that ethanol consumes more energy than it produces, quoting the 2005 Pimentel/Patzek study as its first strike, and adding that wood waste and switchgrass are worse.
Earthtimes reports remarks by Dr. Thomas Elam, president of FarmEcon that “the policy favoring ethanol and other biofuels over food uses of grains and other crops acts as a regressive tax on the poor….The biofuels policy that is driving higher prices of corn, other grains, and soybeans will cost the U.S. economy more than $100 billion from 2006 to 2009….It is inevitable that these costs will be passed along to consumers.”
Cleantech reports on an email circulating the internet, revealing that “Last year, your government spent more than $8 billion of your tax dollars to achieve the following results: Dramatically increase the emissions of carbon dioxide and other greenhouse gases into the atmosphere, Accelerate the destruction of the Amazon rainforest, Raise the price of milk, bread, beef and other grain-dependent products by more than 20%, Increase world hunger. How did they do this? Two words: ethanol subsidies.”
Cleantech is currently running a poll, offering respondents an choice of statements that include: “Biofuels Kill”, “Industrial Agrofuels — Feeding the Planet to Our Cars”, “Biofuels — Destroying the Biosphere One Car at a Time”, and “None of these. You are a shill for big oil and a bad person!”. Option two currently has more than half the votes, and “biofuels kill: currently leads “you are a shill for Big Oil”.
Gristmill ran a post saying that biofuels are “Worse than coal”, calling “Industrial agrofuels” an “enemy of the entire planet”, adding that “Replace [liquid fossil fuels] with today’s biofuels, and you would have an unmitigated ecological disaster of planet-killing proportions.
Producer News:
In Missouri, Northwest Missouri Biofuels said that it had completed a capacity expansion to 15 Mgy, and was using animal fat feedstock that it said was allowing it to continue to produce at 100 percent capacity while soybean-based plants were reducing capacity or shutting down.
In Illinois, the CEO of Coskata detailed how the company can create fuel for less than $1 per gallon using its combined thermochemical and microbe-based approach to cellulosic ethanol production. William Roe said that the company’s process can use multiple “true waste” feedstocks such as wood chips, weeds, human waste, used tires, or carbon monoxide.
In Ohio, VeraSun Energy said its 110 Mgy facility in Bloomingburg had commenced production. This is the 11th VeraSun facility and the fourth ethanol plant in Ohio, and brings the company’s production capacity to more than 1 Bgy.
International News:
The European Bioethanol Fuel Association said that ethanol production in the EU rose 11 percent in 2007 to 468 million gallons. The increase follows 70 percent growth rates the previous two years. Output in France grew 97 percent to 152 Mgy, Germany was down 9 percent to 104 Mgy, while Sweden production dropped 50 percent to 19 Mgy. Overall consumption for 2007 was reported at 714 Mgy.
In India, Tata Chemicals will establish a sweet sorghum-based ethanol plant in Nanded, Maharahstra with an initial capacity of 3 Mgy.
In Canada, Nova Scotia announced an investment of $20 million in Minas Basin Pulp and Power for a facility that will convert 4,000 tons of plastic waste into biodiesel. The government commitment facilitated an equity investment of $27 million in the project by Minas.
In England, D1 Oils launched a shareholder rights offering with a goal of raising up to $60 million from existing shareholders, who would buy discounted additional stakes in the company. D1 said that talks are “advanced” with a number of key shareholders regarding the planned investments.
Research News:
Raymond James analyst Pavel Molchanov, in a note to clients, has projected ethanol prices to average $2.42 and $2.48 per gallon in 2008 and 2009 respectively, while projecting corn costs at $5.48 and $5.45 per bushel. A “crush spread” of $0.46 per gallon in 2008 and $0.53 per gallon in 2008 is based upon a yield of 2.8 gallons per bushel.
Policy and Policymakers:
In Colorado, the state Senate passed a $26.5 million incentives bill earmarked for support of biofuel technologies based on Colorado bioscience research, in addition to other biotech industries that could be supported by the legislation, that was passed by the House in a materially similar version in February.
Consumer and Fleet News:
Research firm R.L. Polk said that US consumers bought 1.8 alternative fuel vehicles in 2007, up 16 percent over 2007, but said that with E85 available at less than 1 percent of the nation’s gas stations, the vehicle purchases were unlikely to have a marked impact on gasoline purchasing habits.
Financial News:The Biofuels Digest Index™ (BDI), a basket of public biofuels stocks, gained 1.35 percent to close at 119.61 led by continuing strength in diversified agribusiness. For the day, Archer Daniels Midland (ADM) gained 1.46 percent to close at $43.15, while The Andersons (ANDE) rose 0.23 percent to close at $43.54. Among ethanol stocks, VeraSun Energy (VSE) gained 2.14 percent to close at $8.60. Among small caps, Green Energy Resources (GRGR.PK) fell 11.11 percent to $0.12, and Bluefire Ethanol (BFRE.OB) rose 1.59 percent on appointment of a new CFO. Overall, advances led advances 6 to 5.
Submitted by DTN Ethanol Blog
| World economic news shaping day-to-day volatility in crude, not scientific advances, according to DTN’s Man on the Floor of the CBOT and CME Gary Wilhelmi.
US Q1 Ethanol Output Seen up 37% Center Ethanol’s Ill. Ethanol Facility to Begin Ops Soon Otter Tail Fergus Falls Ethanol Plant Begins Operations |
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Submitted by Biofuels Digest Blog
Top Story:
US gasoline prices rose to a record $3.31 per gallon this week, according to the nationwide Lundberg survey. The survey’s editor said that spring gasoline reformulations would keep prices rising. Meanwhile, Nigeria, one of the world’s major crude oil exporters, is experiencing a gasoline shortage crisis after 13 ships were quarantined in Lagos because of excessive ethanol content, causing weekend-long fuel queues.
World Opinion:
Moneymorning.com writes that “corn prices will continue to rise….as high as $6 a bushel.…not such a good thing for the American consumer….A recent study from Purdue University puts the added food cost from the renewable mandate at $15 billion in 2007 - about $130 per household. And that was from ethanol usage at a fraction of what will be required in the years ahead.
Kushagra Bajaj, joint managing director of Bajaj Hindusthan, writes: “Is it actually an issue of food versus fuel? Can we not have both food and fuel? And both in plenty? Stanford University biologist Chris Somerville has calculated that with the right plants, just 3.5% of the earth’s surface can supply all of humanity’s energy needs, compared to the 13% now used for agriculture.
Kevin Libin writes in Canada’s Western Standard and a column in the National Post, “With everyone from Germany’s environment minister to the editorial board at The Economist to Fidel Castro challenging the biofuel fad, where are Canadian policy makers on this issue?….“The Government of Canada is committed to biofuels production. Biofuels not only offer new markets for farmers, but new jobs for our cities and towns, and a new source of cleaner renewable energy.”
Jan Brentebraten of European Ford told an Energy Efficiency and Conservation Authority conference that “High-level biofuel blends are being touted as an affordable way of cutting carbon emissions before more complex oil-substitution technologies are widely available. It is very important to focus on what’s available today and not sit and wait for something better to come along…E85 [is] about a third cheaper than petrol-electric hybrids….[agreements on sustainability standards are] “absolutely critical. It is in nobody’s interest to replace one bad option with another.”
Producer News:
In Florida, My Dream Fuel has 1 million jatropha seedlings in the ground in Hendry County, and is planning to open a 150,000 sq ft seed crushing unit to produce jatropha oil for the US market. The company is also promoting its seedling product to farmers, to switch to jatropha production for their marginal lands. Sunshine Biofuels is exploring the establishment of a biodiesel production facility in Collier COunty to process the oil. a start-up company formed two years ago to build an alternative fuel plant.
In Colorado, Blue Sun Biodiesel closed on an unsecured $3 million private loan that the company said would allow it to proceed with 10-terminal development to serve its B20 and B100 clientele. BlueSun said that first quarter 2008 sales were three times the pace set in the corresponding quarter of 2007.
In New Jersey, Universal Valve said that it has developed a new tank filling diffusion system that prevents water phase separation in ethanol blended fuels without adding to tank filling time. Ethanol’s tendency to absorb water causes immense headaches in converting existing petroleum infrastructure to ethanol blends.
International News:
In China, the National Development and Reform Commission has signed off on plans by Hubei, Jiangsu, Jiangxi, Hebei, and Chongqing provinces to develop sweet potatoes, sweet sorghum or cassava ethanol plants. China had previously halted all ethanol production as a result of a food shortage of the country, but is now advancing with non-grain projects. 80 percent of China’s ethanol output has been based on corn.
In Australia, the Productivity Commission has asked the federal government to review ethanol subsidies in light of the potential impact on food prices. The federal government has spent $31.9 million on annual subsidies, and research by the Commonwealth Parliamentary Library found that diverting crops to ethanol production would increase the trade deficit. In 2006, the Rudd government when in opposition demanded that the government lock in the tax-free status of ethanol in order to assure the emerging industry’s survival.
In India, the Society of Indian Automobile Manufacturers is conducting a study to determine how many of India’s 101 million existing vehicles will be able to handle the switch to E10 from E5 planned for October.
Research News:
In Nebraska, University of Nebraska-Lincoln economist Richard Perrin testified that “it’s obvious that [ethanol is] not a very big contributor” to the rise in food prices, saying that grains make up 3 percent of total food costs. Perrin said that 40 percent of the rise in corn prices can be attributed to ethanol, with the rest accounted for by increases in global food demand and price speculation.
Policy and Policymakers:
In Iowa, Senator Charles Grassley has written to auto manufacturers asking for their support of efforts to approve E20, by contributing to research on the imapct of E20 on engine performance. Grassley noted that companies such as Honda are selling E22 cars in the Brazilian market, and could provide critical data on engine performance in support of a move to E20.
Consumer and Fleet News:
In Texas, the 30,000 square foot Willie’s Place is scheduled to open July 3rd as the hub of a fuel and entertainment complex that will include a 27-hole golf complex, a theater, residential area on a 3,000 acre footprint at Carl’s Corner. Willie’s Place will sell E85 and BioWillie, and will be the first facility opened in the planned development.
Financial News:
The Biofuels Digest Index™ (BDI), a basket of public biofuels stocks, jumped 2.95 percent to close at 118.02 led by ADM and VSE. Archer Daniels Midland (ADM) gained 3.13 percent to close at $42.53, while VeraSun Energy (VSE) led ethanol stocks with a gain of 5.12 percent to close at $8.42. Among small caps, Green Plains Renewable Energy (GPRE) rose 11.41 percent to $10.25 in the wake of its merger with Great Lakes Cooperative. Overall, declines led advances 3 to 2.
Submitted by DTN Ethanol Blog
| The opening of several new distilleries boosted U.S. ethanol production during the first three months of 2008 nearly 37 percent from a year earlier to 1.9 billion gallons, an industry watcher said on Friday.
Center Ethanol’s Ill. Ethanol Facility to Begin Ops Soon Otter Tail Fergus Falls Ethanol Plant Begins Operations Albany Renewable to Build Ethanol Plant on Hudson River |
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