| Date: February 03, 2010 | Volume: XXII, Issue: 5 | PRINTER FRIENDLY |
LEGISLATION & POLITICSFY 2011 DOE Budget: Winners and LosersThe Obama Administration Feb. 1 proposed a budget of US$28.4 billion for the U.S. Department of Energy (DOE), which includes funding for renewable energy programs, electric grid modernization schemes, carbon capture and storage technologies and programs that support energy efficiency. Oil and gas companies will lose numerous fossil fuel tax preferences amounting to $26.2 billion in extra taxes over the next decade, according to the National Petrochemical & Refiners Association. U.S. President Touts ‘Clean’ Energy; Trade Groups RespondIn his first State of the Union address Jan. 27, U.S. President Barack Obama endorsed renewable power, nuclear power, advanced biofuels and clean-coal technologies. U.S. Submits Emission Targets to U.N. under Copenhagen AccordIn advance of the Jan. 31 deadline, the United States on Jan. 28 submitted its proposed emission target for 2020 to the United Nations under the Copenhagen Accord. TECHNOLOGY UPDATESMicrobes Produce Fuels Directly from BiomassA collaboration led by researchers with the U.S. Department of Energy’s Joint BioEnergy Institute (JBEI) – a scientific partnership led by the Lawrence Berkeley National Laboratory – has developed a microbe that can produce an advanced biofuel directly from biomass, according to a release from the Berkeley Lab Jan. 27. New Research Finds Way to Increase Sugar Stores in PlantsScientists have found a way to increase fermentable sugar stores in plants that could lead to plant biomass being easier to convert into eco-friendly sustainable biofuels, the Biotechnology and Biological Sciences Research Council (BBSRC) reported Jan. 27. OriginOil Unveils In-House Pilot SystemOriginOil, Inc. (OOIL) unveiled a comprehensive pilot system for algae growth and harvesting at an exclusive event held at its Los Angeles headquarters on Jan. 28, the company announced Feb. 1. Washington DC Auto Show Highlights Emerging Technologies, Fuel SourcesThe theme to last week’s Washington, D.C. Auto Show was “Change Happens Here.” While the word “change” is a popular buzzword in the nation’s capital, this year’s event truly was different than in previous iterations. Cummins, Purdue Develop Lower-NOx Biodiesel EngineResearchers at Purdue University in Indiana announced last week that they’re jointly developing a new diesel engine with Cummins that would reduce the typical nitrogen oxides (NOx) emissions penalty of biodiesel. Kirloskar Inks MOU for Axial Vector Biofuel Engine DevelopmentDubai-based Axial Vector officials announced Feb. 1 that they’ve signed a memo of understanding with India-based non-road diesel engine maker Kirloskar Oil Engines for development of a vegetable-oil-tolerant Axial Vector engine. |
FEATURESShell, Cosan Form US$12 Billion Ethanol JV in BrazilShell officials announced Feb. 1 that they’ve signed a memo of understanding (MOU) to form a US$12 billion joint venture with Cosan in Brazil for production of ethanol, sugar and power, plus supply, distribution and retail of transportation fuels. Prices & MarketsMarket Report
Prices
Futures
U.S. Spot Ethanol: Prices Rise and FallPrices headed both up and down on the ethanol spot market during the last week of January. Ethanol Equities: Prices DownArcher Daniels Midland (ADM), The Andersons (ANDE) and Bunge (BG) all posted losses the last week of January. INTERNATIONAL DEVELOPMENTSUNICA Calls on European Commission to Avoid Expanding UE Sugar ExportsIn a letter to the European Union’s Agriculture Commissioner Mariann Fischer Boel sent Jan. 25, Brazilian Sugarcane Industry Association (UNICA) President and CEO Marcos Jank has contested a request by European sugar producers and some EU Member States to increase sugar exports above the ceiling of 1.374 million tons, a commitment assumed before the World Trade Organization (WTO), according to UNICA Jan. 26. Greenergy Launches JV to Source and Sell Brazilian EthanolU.K. fuel supplier Greenergy International Ltd. announced Jan. 25 that it has entered into a joint venture (JV) with Bauche Group to source and sell Brazilian ethanol, thus establishing Greenergy Brazil, headquartered in Sao Paulo. Report: Brazilian Ethanol OutreachOn Jan. 25, the Global Biofuels Center released a special report on Brazilian Ethanol Outreach, which examined the Latin American country’s efforts to expand the use of ethanol around the world. Research Provides Assurances for Bio-heating and Transportation FuelsA study examining biodiesel product quality and reliability was recently conducted, funded by the Canadian government’s National Renewable Diesel Demonstration Initiative, Imperial Oil and the Canadian Petroleum Products Institute. 2010 Sugar Prices Already Showing Supply ShortageAccording to Czarnikow Group, one of the oldest sugar traders in the United Kingdom, 2010 started with a surge in sugar prices that spiked at 29.80¢ per pound in January, as investors assessed the continued shortage of supply and the depletion of stocks among the major producers. INDUSTRY & FACILITY NEWSFirst Facility to Convert Corncobs and Bioenergy Crops to Cellulosic Ethanol OpensDuPont Danisco Cellulosic Ethanol (DDCE), the University of Tennessee and Genera Energy celebrated Jan. 30 the official opening of one of the world’s first cellulosic ethanol demonstration facilities, located in Vonore, Tenn. Final US$5.25 Million Grant Awarded for Cellulosic ProjectThe Iowa Department of Economic Development approved Jan. 25 an agreement for the final US$5.25 million in financial assistance to POET’s Project LIBERTY, a commercial-scale cellulosic ethanol plant that will produce ethanol from corn cobs, POET announced the following day. Universal Bioenergy Plans Multi-Million Dollar ExpansionUniversal Bioenergy Inc. announced Jan. 26 it is planning several major acquisitions as part of its new progressive business strategy. Blendstar to Launch Biofuel Transload Terminal in LouisianaBlendstar, LLC announced Jan. 27 the launch of a biofuel transload terminal to distribute ethanol and biodiesel in Bossier City, La., a suburb of Shreveport. Joule Names New Senior Vice President of Corporate DevelopmentJoule Biotechnologies, Inc., announced Jan. 27 the appointment of Dr. Troy J. Campione as senior vice president of corporate development. Pacific Ethanol Regains NASDAQ CompliancePacific Ethanol, Inc. announced Jan. 26 that it received a letter from NASDAQ on Jan. 25, which contained a NASDAQ compliance determination that Pacific Ethanol has regained compliance with NASDAQ Listing Rule 5450(a)(1), which requires that listed securities maintain a minimum closing bid price of US$1.00 per share. Study Shows Iowans Want Biodiesel in State's Diesel FuelThe Iowa Biodiesel Board (IBB) released the results of new public opinion research Jan. 28, which states that nearly seven out of ten Iowa voters say they want legislation to ensure the state’s diesel fuel supply includes 5% biodiesel (B5). Gulf Oil President: Price Should Decide Biofuel UseJoe Petrowski, president of Gulf Oil Co., spoke to the Iowa Renewable Fuels Association summit Jan. 22 and said biofuels have a bright future, but also gave what he admitted was an unorthodox view of their place in the nation’s energy supply, Radio Iowa reported Jan. 26. Valero Posts Q4 2009 US$155 Million Loss; Ethanol Investment Returns ‘Excellent’Valero Energy Corp. officials reported Jan. 27 a fourth quarter loss from continuing operations, excluding special items, of US$155 million, or 28¢ per share. This compares with fourth quarter 2008 income from continuing operations, excluding special items, of $795 million, or $1.53 per share. BP Sees ‘Problematic’ Vegetable-Oil Biodiesel; Urges AlternativesIn a speech to energy and climate policy experts in Brussels Jan. 22, BP refining and marketing chief executive Iain Conn warned against continuation of fuel tax policies that favor European light-duty vehicle dieselization along with “problematic” use of vegetable oils to make conventional fatty acid methyl ester biodiesel. |
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