Monday Edition

01.26.09

GLOBAL

Crude oil fell from a two-week high in New York, Monday, on speculation that recessions in the US and other oil-importing nations will further erode demand. Crude has dropped 69% from its July 11th record of $147.27, Bloomberg reports.

NORTH AMERICA

California-based AM Oil Resources & Technology has completed the design of a mobile biodiesel production plant, capable of producing 2,000 to 3,000 gallons of per week in a standard truck trailer.

New Generation Biofuels Holdings has signed a MOU with First Florida Biofuels to develop biofuel projects in Florida, in which New Generation Biofuels will provide technology and First Florida will provide marketing and financial arrangements.

A University of Nebraska report shows that advances in corn and ethanol production have improved biofuel's environmental performance. Corn ethanol emits 51% less greenhouse gas than gasoline, three times the reduction reported in earlier research.

Green Fuel Association has begun a switch grass biofuel pilot plant in Northern California. The company was unveiled this month and if the pilot project is successful, the company plans to partner with Shasta College and expand nationwide.

SOUTH AMERICA

Corn and soybeans declined in Chicago, Monday, as rain in Argentina and Brazil improved the prospects for drought-affected crops. However, Argentina’s grain and oilseed harvest may fall by 28.8 million mt this year after many areas recorded the lowest rainfall in 47 years.

Costa Rica will begin selling 7% ethanol in gasoline country-wide in March. A Costa Rican company has already been successful producing yellow grease-based biodiesel for 130 suburban buses.

EUROPE

The Netherlands-based biodiesel producer Solarix, the University of Amsterdam, and Yellow Diesel have received a $1.3 million grant for biofuels development from the Dutch Ministry of Economic Affairs.

MIDDLE EAST

Deutsche Bank is seeking investment opportunities in Israel's renewable energy sector. "The combination of efficient utilization of natural resources and advanced technologies coupled with Deutsche Bank's know-how and experience is a win-win proposition," Deutsche's Israel country head stated.

AFRICA

Sierra Leone in Western Africa has launched a $200 million renewable energy project, including sugarcane-based ethanol and a power generation plant. Construction is expected to begin in June.

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