The simple economics of foreign oil dependency…oil comes in, money goes out….US oil imports have increased steadily….we import more than 10 million barrels of oil per day…..at recent prices that means $800 million dollars a day is being exported…..
Recently it has been argued that in order to jumpstart our economy we need to send out tax rebates totaling $145 billion…at that rate, it seem we have been busy jumpstarting the economies of Mexico, Venezuela, and the Persian Gulf for the last several years….
Recently it was reported that a new biofuel plant is being built in the state of Washington, which will produce a hundred million gallons of fuel annually. The processing system will cost $30 million dollars….that means the equivalent of one days worth of petroleum imports ($800 million) could build more than 25 biofuel plants, producing 25 hundred million gallons of fuel per year….
Not to mention the impact on the local economy in 25 locations around the country when you spend the money for construction…
This particular biofuel plant is being fueled by wood byproducts….in Florida they are experimenting with biofuel from citrus pulp and skins left over from juicing…..experiments are going on using landfills to fuel ethanol plants……there is even a study going on which suggests they can produce ethanol from seaweed….imagine, a plant which can grow in saltwater producing fuel!
Republicans are the party that supports business, but when did we become the “party of big oil companies” instead of the “party of small businessmen trying to build biofuel plants”?
I will add more biofuel news as I find it….
Coors Brewing Company is doubling its current production of 1.5 million gallons of ethanol per year from beer waste by adding a second ethanol processing plant at its Aurora, Colorado brewery.
Xethanol Corporation (AMEX: XNL - News), a renewable energy company focused on converting biomass to biofuel, today announced the Company has formed a venture with Renewable Spirits, LLC for the purpose of building a biomass-based pilot production facility, utilizing waste citrus peels as raw material for making ethanol. The venture is located in Bartow, Florida, the heart of the state’s citrus industry. The venture is expected to establish a pilot plant to produce up to 50,000 gallons of ethanol this harvesting season. The pilot plant, which will increase to over 500,000 gallons per year (GPY), is co-located at a facility owned and operated by Peace River Citrus Products, Inc., a leading producer of orange and grapefruit juice and other citrus products.
With help from a state agricultural grant, a Wisconsin company has successfully tested technology that converts cheese waste into ethanol.