Novozymes’ CEO not worried about oil until it’s at $40 long term

In Denmark, Novozymes’ CEO says $40 oil over the long term could wane interest in second generation ethanol but above that, lower ethanol prices will just weigh down the cost of feedstock which can only make cellulosic ethanol more attractive. He expects oil to reach back up to $80 a barrel. He also said that it may take until 2020 to supply 15 cellulosic ethanol plants with enzymes rather than 2017 as estimated when the Beta Renewables plant in Crescentino, Italy opened in 2013.