August biodiesel production totaled 66,696,000 gallons, down from 67,410,000 gallons in July.
August 2008 - 66,696,000 gallons
July 2008 - 67,410,000 gallons
June 2008 - 63,378,000 gallons
May 2008 - 52,500,000 gallons
April 2008 - 52,836,000 gallons
March 2008 - 49,056,000 gallons
February 2008 - 43,260,000 gallons
January 2008 - 50,736,000 gallons
2007 - 489,804,000 gallons
Source : EIA : Biodiesel Overview
November 28, 2008
November 27, 2008
September Ethanol Production Down Slightly
September ethanol production dipped slightly from the prior months totals. Imports, stocks and consumption all rose.
Source: - Energy Information Administration
Ethanol Production Numbers in Gallons | ||||
|---|---|---|---|---|
Production | Imports | Stocks | Consumption | |
September 2008 | 806,274,000 | 103,572,000 | 671,748,000 | 863,142,000 |
August 2008 | 842,478,000 | 81,102,000 | 625,044,000 | 852,348,000 |
July 2008 | 799,764,000 | 57,120,000 | 553,812,000 | 819,840,000 |
June 2008 | 736,848,000 | 65,982,000 | 516,768,000 | 791,910,000 |
May 2008 | 778,806,000 | 36,372,000 | 505,848,000 | 793,968,000 |
April 2008 | 708,456,000 | 60,942,000 | 484,638,000 | 763,182,000 |
March 2008 | 730,674,000 | 15,456,000 | 478,422,000 | 707,238,000 |
February 2008 | 631,050,000 | 20,286,000 | 439,530,000 | 660,114,000 |
January 2008 | 664,356,000 | 20,790,000 | 448,308,000 | 679,308,000 |
December 2007 | 636,762,000 | 8,904,000 | 442,470,000 | 674,352,000 |
November 2007 | 602,592,000 | 16,506,000 | 471,156,000 | 628,800,000 |
October 2007 | 588,756,000 | 41,916,000 | 480,858,000 | 635,124,000 |
Source: - Energy Information Administration
November 25, 2008
Poet in buyout talks with other ethanol producers
POET LLC, the nations largest ethanol producer said in an AP article that it was in buyout talks with a number of ethanol companies."We just feel there is a lot of promise in the future of the ethanol industry," said Jeff Broin, chief executive of privately held Poet.
He offered no specific timetable and mentioned no company names.
As I mentioned in my last post, VeraSun announced in a press release that it had an indication of interest for purchasing it's assets. As far as I know these two events are separate.
Broin did say in the article that they were looking at entire ethanol companies and plants that were in favorable locations and had the right amenities.
Source : Cleveland.com
VeraSun Receives Indication Of Interest Of Purchase Of Assets
VeraSun announced in a press release that it had received indication from an interested buyer.VeraSun Energy Corporation (VSUNQ), one of the nation’s largest ethanol producers, today announced that it recently received a non-binding unsolicited indication of interest with respect to the purchase of substantially all of its assets. The Company intends to pursue this indication of interest to its conclusion and evaluate other proposals it may receive in accordance with its obligations as a debtor in possession under chapter 11 of the Bankruptcy Code. The indication of interest received by the Company is subject to significant conditions, and there can be no assurance that it will result in the consummation of a transaction, that the Company will receive any other offers or indications of interest, that the Company will be able to complete any alternative transaction or that any transaction or transactions would generate proceeds sufficient to satisfy the claims of all of the Company’s stakeholders.
Due to confidentiality considerations, the identity of the third party and the terms of its indication of interest were not disclosed.
The company says that it plans to explore this and any other potential proposals.
Source : VeraSun Press Release
November 21, 2008
Renewable Fuel Standard Increased for 2009
The EPA recently announced the renewable fuels requirement for 2009.
Source : EPA
This has caused some confusion though as some sources are saying that it requires 11.1 billion gallons of ethanol to be blended into the fuel supply next year. This isn't correct, the amount ethanol is set at 10.5 billion gallons, biodiesel is set at 500,000 gallons and 100,000 gallons must come from advanced biofuels for a total of 11.1 billion gallons.
The 2009 renewable fuel standard (RFS) will be 10.21 percent to ensure that at least 11.1 billion gallons of renewable fuels be blended into transportation gasoline.
The Energy Independence and Security Act of 2007 (EISA) established the annual overall renewable fuel volume targets, reaching a level of 36 billion gallons in 2022. To achieve these volumes, EPA calculates a percentage-based standard by November 30 for the following year. Based on the standard, each refiner, importer and non-oxygenate blender of gasoline determines the minimum volume of renewable fuel that it must ensure is used in motor vehicle fuel. The 2008 standard was 7.76 percent, equating to roughly 9 billion gallons.
Source : EPA
This has caused some confusion though as some sources are saying that it requires 11.1 billion gallons of ethanol to be blended into the fuel supply next year. This isn't correct, the amount ethanol is set at 10.5 billion gallons, biodiesel is set at 500,000 gallons and 100,000 gallons must come from advanced biofuels for a total of 11.1 billion gallons.