Biofuel Plants Go Bankrupt on Feedstock Costs

Friday, June 27, 2008 1:48 PM

NEW YORK -- Soaring corn and soy prices on top of rising construction costs and tight credit markets have pushed about a dozen U.S. biofuel plants to file for bankruptcy protection, experts said.

Prices for corn, the feedstock for most U.S. ethanol plants, hit fresh records above $8 per bushel this week as floods this month in the Midwest have caused billions of dollars of crop damage....

http://moneynews.newsmax.com/headlines/alternative_energy/2008/06/27/107992.html

Friday, June 27, 2008 9:45 AM

LOS ANGELES (AP) -- City Councilman Bill Rosendahl drove into a corner gas station with a big grin on his face. He stepped out of a sports utility vehicle, pumped fuel into the tank and declared it "the most joyous moment I've had since being elected to office."

That's because Rosendahl was marking the opening of California's first retail hydrogen station on Thursday, and the Chevrolet Equinox he was riding in emits nothing but water vapor....
http://moneynews.com/economy/alternative_gas/2008/06/27/107914.html

By Stefan Bos
Szentendre, Hungary
27 June 2008

Government officials from more than 30 countries gathered in Hungary Friday for the opening of Central and Eastern Europe's first conference center powered by renewable energy. The building of the Regional Environmental Center for Central and Eastern Europe is seen as an international example of environmentally friendly design. Stefan Bos reports from the Hungarian town where the Center is based....


http://www.voanews.com/english/2008-06-27-voa53.cfm

By Zulima Palacio
Washington
26 June 2008

A growing number of people these days are debating whether to buy a hybrid car, use public transportation, or ride a bike to work. Those decisions impact what is being called a person's "carbon footprint" - the amount of carbon dioxide or greenhouse gases a person's activities produce. Producer Zulima Palacio looks into the issue of the carbon footprint and offers suggestions on how to reduce it. Mil Arcega narrates this Searching for Solutions report....

http://www.voanews.com/english/2008-06-26-voa26.cfm

By Tendai Maphosa London 08 July 2008

A recent independent review of biofuels has found production of this alternative energy source has contributed to a global rise in the price of food. It also says biofuels could actually increase the very greenhouse gases they seek to reduce. As Tendai Maphosa reports from London this is just one of the many reports expressing concern and calling for a review of the biofuel issue...
http://www.voanews.com/english/2008-07-08-voa55.cfm

NEW YORK (Reuters) - A top U.S. Democratic senator said in a newspaper interview published Wednesday that he would consider supporting opening up new areas for offshore oil and gas drilling.
"I'm open to drilling and responsible production," Senate Majority Whip Richard Durbin told The Wall Street Journal, adding that Senate Majority Leader Harry Reid could also support the move...
http://www.reuters.com/article/newsOne/idUSN0930217120080709

Jul 03, 2008 - 02:09 PM
In my May article, Food Shock , I mentioned that biofuel production was consuming many of the crops normally used for food. Riots have broken out over the sharp price rises of 37% last year, and 16% so far in 2008. Coffee, soybeans and wheat are increasingly diverted to biodiesel production, driving prices higher. Almost a quarter of America's corn crop was distilled into ethanol last year, and the percentage is expected to grow another 10% in 2008...
http://www.marketoracle.co.uk/Article5322.html