April 25, 2006
President speaks on biodiesel
this from the Pres today
"I also support biodiesel fuel, which can -- (applause) -- which can substitute for regular diesel in cars, trucks, buses and farm equipment. Last year I went out to see a biodiesel refinery in Virginia that's making clean-burning fuel from soybean oil. And it was a really interesting process to watch. I don't know if you know this or not, but they're able to use waste products like recycled cooking grease to manufacture biodiesel. In other words, research and development has lead to new alternative sources of energy like biodiesel. So that's one of the reasons why I signed into law the first ever federal tax credit for biodiesel producers. In other words, we're interested in addressing our energy security needs on a variety of fronts. It makes sense for the United States to have a comprehensive strategy to help us diversify away from oil. "
he is spinning, but I hope it results in action. He is beginning more and more to include biodiesel with the ethanol pitch.
April 24, 2006
Biodiesel price inverts again
This from OPIS:
"At the rack, diesel prices added more than 11 cts on average for the week, topping $2.20/gal in many areas. That bolstered biodiesel blending economics, with B100 rack prices lately averaging some 8cts less than diesel, given the federal blending credit."
In seattle you can buy B100 cheaper than diesel at at least three stations. Last summer the inversion lasted 6 weeks and didn't start till after the hurricanes. This summer's hurricane season hasn't even started. I expect prices to be inverted for three or four months this year. We are cranking up production at Imperium!
California RFS gets closer
2% biodiesel by 2008 and 5% by 2010. Go California!