“US Biofuels Boom running on empty”, opines Journal, citing biodiesel woes, advanced biofuels delays

In New York, the Wall Street Journal has run a major article, “US Biofuel Boom running on empty,” describing the 30 percent capacity utilization in the US biodiesel industry and relating quotes from investors on how they have been spooked by problems with first generation ethanol and some celebrated advanced biofuels fracas like the successful investor lawsuit against Cello Energy.

The article discusses that the business models for biofuels processing plants were based on higher expected oil prices, and quoted  Bill Wicker, spokesman for Sen. Jeff Bingaman of New Mexico, chairman of the Senate Energy Committee, in saying that “I don’t believe there’s a man, woman or child who believes the industry can hit” the EPA’s 2010 advanced biofuel blending targets.

The 100 million gallon target has included 75 million gallons from Cello, which will produce, according to the most recent reports associated with the lawsuit, only a fraction of that at best.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Today in Biofuels Opinion: “The rationale to support alternative fuels in our state remains a “no-brainer.”

Delta Farm Press: "For those who believe in the future of biodiesel in Arkansas, a recent front page of the Wall Street Journal may have brought some scowls and tears. The article declared the nation�...

Kreido Biofuels hangs up towel on 100 Mgy North Carolina biodiesel project, citing financing woes

In North Carolina, Kreido Biofuels announced that they were suspending work on a 100 Mgy biodiesel plant in Wilmington due to financing conditions. The company announced that it "will scale back its o...

Novozymes doubles investment in Nebraska enzyme plant to $200 million, citing expected cellulosic ethanol boom

In Nebraska, Novozymes said that it will increase its investment in its new enzyme plant in Blair to $200 million, in order to be prepared for what the company expects will be a boom in orders with th...

New York Times drops the boom on the ethanol boom

The New York Times says "the ethanol boom of recent years...may be fading" and pressure may be on presidential candidates to get behind corn ethanol as industry fundamentals turn sour. Industry watche...

Liberty Renewable says proposed 121 Mgy plant in Michigan still a go, despite financing woes

In Michigan, Liberty Renewable Fuels denied rumors that the 121 Mgy corn ethanol plant project would be canceled, and said that it had stopped construction to raise more capital for the $233 million f...

Biopetrol delays 400,000 tonne biodiesel plant in the Netherlands, citing construction issues

In the Netherlands, Biopetrol announced the delay of its 400,000 tonne biodiesel plant in Rotterdam, citing construction delays owing to late deliveries and permitting slowdowns. Dutch use of renew...