Today in Biofuels Opinion: “We are basically going to see a shortage of capacity within two or three years. We’re being lulled by present excess capacity.”

Ardent Energy Group: “Yemane Daniel Gezahegne, CEO of Ardent told the Ethiopian Reporter that biofuel can help Ethiopia reduce its dependence on oil imports that are costing the country more than $1 billion dollars a year…He said that after three years of research on various possible projects to reduce the oil dependency, AEG decided to go ahead and start the biofuel project. In May, 2009, AEG signed an agreement with the Ministry of Agriculture and Rural Development (MOARD) and was granted 15,000 hectares (approximately 37,000 acres) of land to cultivate jatropha and castor, with the resultant crop to be refined into usable biodiesel fuel.”

Dr. Sadad al Husseini: former Aramco head of exploration and production: “I’ve been tracking the number of [exploration and development] projects globally for a long time, both in the Middle East and elsewhere…There is not enough new capacity coming on line … within say the next five to six years to make up for … declines [in the production of active reservoirs] . And that’s assuming a very moderate level of declines [in their production]…Even at these modest decline rates, we are basically going to see a shortage of capacity within two or three years. We’re being lulled by present excess capacity, which has more to do with lower demand than anything to do [with] supply.”

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