Global News Summary
WEDNESDAY EDITION July 28, 2010 Volume 6 Issue 78 Global BP REPORTE...
WEDNESDAY EDITION July 21, 2010 Volume 6 Issue 75 Global GOLDMAN SA...
FRIDAY EDITION July 16, 2010 Volume 6 Issue 73 North America DEMOCR...
WEDNESDAY EDITION July 14, 2010 Volume 6 Issue 72 Global OILEASES B...
North America MASSACHUSETTS SUSPENDS BIODIESEL MANDATE Massachusetts has s...
WEDNESDAY EDITION June 23, 2010 Volume 6 Issue 66 Global OIL FALLS ...
North America NO CLEAR ANSWERS ON ENERGY LEGISLATION YET Senate Majority L...
North America BP ATTEMPTS AGAIN TO SHUT GULF OIL WELL BP’s planned attempt ...
North America ASA: SOY BIODIESEL CAN FULFILL RFS WITHOUT NEGATIVE IMPACTS...
North America EPA TO BEGIN ANALYSIS OF PROPOSED CLIMATE BILL The US EPA wil...
Oil prices fell below $70 Wednesday on worries about energy demand amidst slowing global growth and despite a likely OPEC output cut later this week, analysts said. Traders were also awaiting the latest weekly report today on crude reserves in the United States, Reuters reports.
In Nebraska, Future Energy‘s plans for a biodiesel plant in Humboldt County have halted due to rising costs. The County Board of Supervisors has terminated $400,000 in funding to construct the $75 million biodiesel plant. The plant would have employed 28 people.
In Florida, Houston-based GreenHunter Energy is seeking to take over a 22 acre lease from Port Sutton Envirofuels for the construction of a $70 million biodiesel plant.
Although biodiesel production in Pennsylvania has surpassed the 40 million gallon per year threshold required for the B2 mandate, legislators are delaying its implementation due to conditions that need to be met regarding ASTM certifications and infrastructure installations, Biodiesel Magazine reports.
An Oregon State University professor is developing a microreactor - about the size of a credit card – which pumps vegetable oil and alcohol through tiny parallel channels, each smaller than a human hair, to convert the oil into biodiesel almost instantly.
Aramark Higher Education, a service provider to more than 600 colleges throughout North America, is working to incorporate Zero Waste practices into their sustainability plans, including recycling used cooking oil for biodiesel.
Hawaiian Electric Co. has signed a plan to create 70% of Hawaii's energy use from clean energy sources by 2030. The plan includes integrating up to 1,100 megawatts of renewable energy into the power grid and converting existing fossil fuel generators to biofuel using locally grown crops.
Michigan's Clean Energy Coalition has been awarded a $125,000 US DOE grant to offer incentives to service stations and public fleet owners to convert their infrastructure for E85. The incentives will cover 50% of station conversion costs of up to $5000 per site to allow for the addition of 25 E-85 stations to the existing 80.
The US Commerce Department confirmed reports that indicated a significant recovery for imported volumes of ethanol entering the country during August, especially from Brazil. Ethanol imports to the US during August jumped to the highest level of the year to nearly 90 million gallons--up almost 40% from the month previous.
Repsol YPF SA slid 13% on Spain's IBEX 35 Index, the steepest intraday decline since 1997, as Argentina's planned seizure of $29 billion in pension funds causes concern that the South American nation may be headed for its second default in a decade, Bloomberg reports.
Germany's government has lowered biofuel blend levels to 5.25% in 2009 instead of a previously planned 6.25% blend. From 2010, the biofuel blending level will be increased to 6.25% and remain fixed at that level until 2014, the government said in a statement.
A US/European joint venture has closed a $43.7 million debt financing package to develop a biomass energy project in Belgium. US-based Intrinergy and the European Shanks Group say they plan to construct a combined-heat-and-power plant and a wood pellet manufacturing facility.
A London-based vegetable oil analyst said that CPO prices may fall to $338/mt if crude oil falls to $55/bbl by next month. However, CPO prices may stay at around $422 over the next six months if crude oil prices are assumed around $60/bbl, Dow Jones reports.
ASIA / PACIFIC
Malaysia has raised its 2008 biodiesel export forecast to 200,000 tons, more than double from last year. "Export of biodiesel is picking up in volume and speed. The spread between the selling price of palm methyl ester and the feedstock is allowing biodiesel producers to make some money," said Plantation Industries and Commodities Minister Datuk Peter Chin.
India is considering to tax vegetable oil imports to protect the domestic industry from a slump in prices and lift a ban on exports, the farm minister said on Wednesday.
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