I haven't written a lot about biofuels this year. The decreasing price of oil is an influential factor. Certainly, the economic crisis has impacted investments in the field of biofuels production. But that area isn't completely dead. Things are happening.
Verenium to launch largest commercial-scale cellulosic ethanol plant; $250 million 36 Mgy Florida project starts this year : Biofuels Digest: "In Florida, Verenium announced that it would commence construction of what it termed the first commercial-scale cellulosic ethanol plant. The facility will be located in Highlands County, between Orlando and Lake Okeechobee.
The company said that it would receive $7 million in support for the project from the state of Florida’s Farm-to-Fuel fund, and expected to break ground on the 36 Mgy facility in the second half of the year. The project will cost between $250 and $300 million and will use non-food grasses as feedstock.
The company’s 1.4 Mgy demonstration-scale plant in Jennings, Louisiana commenced production this month , and capping off an excellent start to the year was news from NASDAQ that the company was once again in compliance with the exchange’s minimum market cap of $50 million. The company announced $133 million in losses in the third quarter."
“The way we're really going to grow the economy is to invest in people, to invest in innovation, to have the government put money in the kind of research that will create the new high-technology, BIOTECHNOLGY industries that will create millions of new jobs.” - Joseph Lieberman-
Showing posts with label oil price. Show all posts
Showing posts with label oil price. Show all posts
Friday, January 16, 2009
Thursday, August 7, 2008
Biotouch and the price of oil
Macarena, Elias, Juha, and Bitouch readers, we're now heading towards the second phase with this open innovation platform for Biotouch. Macarena did a great work to get Biotouch started and attracted readers from all over the world. She used some new tools like Yahoo Answers to get more visitors to this blog.
Now I try to attract more readers, commentators, and co-writers. We need to get this waggon moving. A lot of work has been done for years. I hope this will lead to something we couldn't imagine before. Taking this business process to the open is a new and bold move. The social media provides new windows of opportunities for complex issues like Biotech.
We're still struggling with how to turn great innovations like PMEU and the knowledge within the team to Biotouch projects with a solid Financing but time will tell if we're heading in the right direction.
The price of oil is now high, even though it has declined a little from $150 peak prices. But there is still a long way to go before we're down at $50 per barrel. As an evidence, take a look at Elias' email comment and we can see that one of the resasons for the high price of oil is the lack of investments in refinery capacity. Take a look at this quote "There will be no new refineries by Giuseppe Marconi - 2008/07/23" below.
Giuseppe Marconi's comment is two weeks old. Here is Elias' comment.
There will be no new refineries by Giuseppe Marconi - 2008/07/23
Oil companies won't be building more refineries, because there won't be enough oil left to refine by the time new refineries could pay for themselves.
There hasn't been a new refinery built in the US since 1976. In 1982, there were 301 operable refineries in the U.S and they produced about 17.9 million barrels of oil per day. Today there are only 149 refineries, and they're producing 17.4 million barrels. This increase in efficiency is impressive but not a miracle. As with everything these outputs are carefully calculated to optimize profitability. Let me explain.
Truth be told, new refineries require tremendous financial commitments which take anywhere from 15 to 25 years to amortize. With record oil prices it would make perfect sense to invest in a few refineries today, except... for the lack of oil to be refined 20 years from now.
Trends have predicted that peak oil production, where the production of oil starts to decline, will be reached around 2007-2010. After that, there will be less and less oil to refine no matter where drillers look. In this context, building expensive new refineries does not make a lot of sense as existing ones will be sufficient to process whatever little oil is left. So forget about new refineries, except for a few in the northern midwest to process the heavy oil from Canada.
refinery tank.
Crude oil is a finite resource more and more depleted. As such, an increasing demand put on this finite supply necessitates careful management in order to stretch its lifespan and profitability.
2008/8/5 Helge V. Keitel
Now I try to attract more readers, commentators, and co-writers. We need to get this waggon moving. A lot of work has been done for years. I hope this will lead to something we couldn't imagine before. Taking this business process to the open is a new and bold move. The social media provides new windows of opportunities for complex issues like Biotech.
We're still struggling with how to turn great innovations like PMEU and the knowledge within the team to Biotouch projects with a solid Financing but time will tell if we're heading in the right direction.
The price of oil is now high, even though it has declined a little from $150 peak prices. But there is still a long way to go before we're down at $50 per barrel. As an evidence, take a look at Elias' email comment and we can see that one of the resasons for the high price of oil is the lack of investments in refinery capacity. Take a look at this quote "There will be no new refineries by Giuseppe Marconi - 2008/07/23" below.
Giuseppe Marconi's comment is two weeks old. Here is Elias' comment.
Hello!
Thank you for the message. I have adjoined here one comment related to the inadequasy of crude oil preventing the planning of new refineries. I think that this is rather indicative also pricewise.
I would be glad to contribute on "Biotouch" especially since I was generating the concept in the spring in some of our fruitful telephone conversations. It is essentially a way to act in a new direction in order to gain understanding on the microbes.
Tried to call Hannu today, after his message. We will be in touch hopefully on tomorrow.
With best regards,
Elias
There will be no new refineries by Giuseppe Marconi - 2008/07/23
Oil companies won't be building more refineries, because there won't be enough oil left to refine by the time new refineries could pay for themselves.
There hasn't been a new refinery built in the US since 1976. In 1982, there were 301 operable refineries in the U.S and they produced about 17.9 million barrels of oil per day. Today there are only 149 refineries, and they're producing 17.4 million barrels. This increase in efficiency is impressive but not a miracle. As with everything these outputs are carefully calculated to optimize profitability. Let me explain.
Truth be told, new refineries require tremendous financial commitments which take anywhere from 15 to 25 years to amortize. With record oil prices it would make perfect sense to invest in a few refineries today, except... for the lack of oil to be refined 20 years from now.
Trends have predicted that peak oil production, where the production of oil starts to decline, will be reached around 2007-2010. After that, there will be less and less oil to refine no matter where drillers look. In this context, building expensive new refineries does not make a lot of sense as existing ones will be sufficient to process whatever little oil is left. So forget about new refineries, except for a few in the northern midwest to process the heavy oil from Canada.
refinery tank.
Crude oil is a finite resource more and more depleted. As such, an increasing demand put on this finite supply necessitates careful management in order to stretch its lifespan and profitability.
2008/8/5 Helge V. Keitel
Monday, June 30, 2008
How Biotouch Started and Oil Price $ 600 prediction!
There were rumors today that a barrel of oil might jump to 600 dollars per barrel.
A few weeks ago a Gazprom executive predicted that the oil price might climb to $ 250 per barrel.
But $ 600 per barrel means the real beginning of a bio-based economy.
Biotouch is a conceptual approach with tools and ideas for better handling of the post-oil-period. But changes might happen very soon.
The current news are scaring. How well are we prepared? Read this blog about oil-price!
The YouTube video to the right is representing another extreme: the man is explaining, "there is no peak-oil" in his own words.
"One of the funniest videos in months," comments one YouTube commentator.
The other comment says, "He is right about the oil. First off we have a 100 biliion barrels of untapped reserves in the US that include off shore anwar and shale deposits in Colorado. You people can laugh at this guy but for an idiot he isn't a sheep like most people who laugh at this video are. Our Liberal congress refuses to drill or use these deposits if people would wake up and vote these politicians out we wouldn't be paying 4.00 gas. wake up people the Government is Screwing us."
Anyway, oil is becoming a real big issue. The price of the dollar is anohter. What happens in Iran in the coming months is a determining factor. Let's wait and see...
A few weeks ago a Gazprom executive predicted that the oil price might climb to $ 250 per barrel.
But $ 600 per barrel means the real beginning of a bio-based economy.
Biotouch is a conceptual approach with tools and ideas for better handling of the post-oil-period. But changes might happen very soon.
The current news are scaring. How well are we prepared? Read this blog about oil-price!
The YouTube video to the right is representing another extreme: the man is explaining, "there is no peak-oil" in his own words.
"One of the funniest videos in months," comments one YouTube commentator.
The other comment says, "He is right about the oil. First off we have a 100 biliion barrels of untapped reserves in the US that include off shore anwar and shale deposits in Colorado. You people can laugh at this guy but for an idiot he isn't a sheep like most people who laugh at this video are. Our Liberal congress refuses to drill or use these deposits if people would wake up and vote these politicians out we wouldn't be paying 4.00 gas. wake up people the Government is Screwing us."
Anyway, oil is becoming a real big issue. The price of the dollar is anohter. What happens in Iran in the coming months is a determining factor. Let's wait and see...
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