Daily Summary for Friday August 3

Top Story: California released its new Low Carbon Fuel Standard, to reduce CO2 emissions from fuels by 10 percent by 2020. The Standard includes support for E85 ethanol blends, as well as increased availability of hydrogen and other biofuels.

Producers: Spanish investors have complete the financing work on two new ethanol plants in the US Midwest.

International: Two new ethanol plants are slated for construction in Brazil, and will come online in late 2009 and 2010 respectively. A pilot biodiesel project has been announced in Belize.

Policy: The US House of Representatives postponed a vote until Saturday on the 2007 Energy Bill. President Bush has threatened to veto the bill because of its cuts in tax incentives for oil companies.

Research: Irish biofuels conglomerate Bioverda warns that ethanol producers will need to reach 1 billion gallons in production capacity to have the economies of scale to survive.

Demand-side news: The National Clean Air Green Tour truck continues its 150-city tour promoting ethanol. The truck itself runs on biodiesel.

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