While PNG rush into mass resources exploitation resulting in money rain in those lucky areas. Some clever regions are looking into the future through renewable resources development. As LNG,gold copper etc ..investment raises, Biofuel investments have been sharply rising.
Below is the updates.
Brazil tops US in $8.73 billion for biofuels investments for 2009
Digest project summary available for free download
$8.737 billion in biofuels processing technology and feedstock development investments were announced in 2009, based on analysis of 81 investments in 18 countries as reported in Biofuels Digest.
Overall, Brazil led with $3.454 in announced investments, followed by the US with $2.31 billion. Among fuels, mixed product strategies dominated with 23 investments aimed at multiple fuels or co-products, while wood and sugarcane dominated the feedstocks. The largest reported investments were a $2.8 billion commitment from Petrobras and a $600 million investment by ExxonMobil.
The investments include debt, equity and government grants, and in most cases involve multi-year investments, funds that may be injected into projects in later years, or projects that may be delayed or in some cases not completed.
The downloadable project table includes projects, location, investment amlount,. fuel, feedstock and, in some cases, additional notes on project investors or investment structure
Reporter Bill Tauber of the McClatchy newpaper chain, promoted as the "Green Enmergy Coach" said in answer to a reader question that "ethanol, energy savings is a hoax". Tauber asserted that corn ethanol production requires 29 percent more fossil energy than the energy contained in the ethanol fuel, and asserted that "corn grain [is]...doing harm to the soil since the corn is planted regularly without a natural break in the planting seasons." The Digest is inviting readers to submit hard data in support of, or in opposition to, McClatchy's reporting.
In Texas, the 180 Mgy Renewable Biofuels biodiesel plant, with the largest refining capacity in the country, has been idled due to the expiration of the biodiesel tax credit. Meanwhile, GreenHunter Energy, owner of a 105 Mgy biodiesel facility near Houston that is also idled and up for sale, said that its GreenHunter Biofuels subsidiary has received a waiver to any claims of default from lender WestLB, while it looks for fresh capital or sell its assets.
Renewable Fuels Association: "The past decade truly was the era when biofuels such as ethanol came of age. From just 1.4 billion gallons of production in 1999, the U.S. ethanol industry last year produced an astonishing 10.6 billion gallons. Ethanol is now, truly, a ubiquitous component of the U.S. motor fuel market, with ethanol blended in more than 80% of every gallon of fuel, and ethanol blends sold virtually coast to coast and border to border."
Todd Guerrero, Frederickson & Byron: "Growth Energy and the RFA recently filed suit in federal district court alleging that California's low carbon fuel standard violates the federal Constitution. The Supremacy Clause of the Constitution invalidates state laws that interfere with or are contrary to federal law...the trade groups assert that the LCFS stands as an obstacle to Congress' intent in adopting the 2007 EISA Act...The LCFS conflicts with EISA because it will impose limits on GHG emissions on existing plants that Congress specifically exempted."
In India, Indian Oil Corporation told the Business Standard that it has entered talks to acquire 123,000 acres in Uttar Pradesh for jatropha and karanija oilseed plantations. The company previously acquired more than 75,000 acres in Chhattisgarh and Madhya Pradesh, where it has planted over 20,000 acres to date with jatropha. Those plantations are expected to be harvest-ready by 2013-14.
In Hungary, ethanol construction pioneer Fagen is turning to Eastern Europe for new business as US biofuels construction slows. CEO Ron Fagen said that his company is completing one more corn ethanol plant, but expects that his business mix will be 560 percent biomass power projects, and 25 percent wind energy.
Keeping you updating on biofuel future.