Poet Continues To Open Ethanol Production Plants
- Date: 2008-10-08 - Word Count: 287
Share This!
Apparently POET is too busy building and opening ethanol plants to read the headlines and know that the financial world as we know it is coming to an end.
The world's biggest ethanol producer just keeps getting bigger, opening a new plant today in Fostoria, Ohio and announcing another plant opening in the same state at the end of October.
In fact, POET may be looking to get even bigger through acquisitions, according to this story from the Ottawa Citizen, which quotes CEO Jeff Broin saying that the financial crunch has made it the best time "in at least five years" to do so.
Obviously, he has not heard that the financial crisis "may delay biofuels development," as Reuters reported this week from an interview with the CEO of BlueFire Ethanol. The fear is that the crisis will stifle cellulosic ethanol development because it has "raised project finance costs and made ambitious targets to replace fossil fuels with renewable energy sources look less achievable." Just last month, POET announced they would complete construction on a $4 million pilot-scale cellulosic ethanol production facility by the end of this year and Jeff Broin said he is "more confident about the future of cellulosic ethanol than ever before."
Some ethanol producers have been affected by bad financial decisions lately, no question. But, with corn prices heading back down (futures dropped below $5 today), those who are the most fiscally responsible will continue to turn a profit and keep moving forward. I'm no economist, but it seems that one of the best solutions to our financial problems is to invest even more into domestic, renewable sources of energy that produce jobs and keep more American dollars here at home rather than sending them overseas.
The world's biggest ethanol producer just keeps getting bigger, opening a new plant today in Fostoria, Ohio and announcing another plant opening in the same state at the end of October.
In fact, POET may be looking to get even bigger through acquisitions, according to this story from the Ottawa Citizen, which quotes CEO Jeff Broin saying that the financial crunch has made it the best time "in at least five years" to do so.
Obviously, he has not heard that the financial crisis "may delay biofuels development," as Reuters reported this week from an interview with the CEO of BlueFire Ethanol. The fear is that the crisis will stifle cellulosic ethanol development because it has "raised project finance costs and made ambitious targets to replace fossil fuels with renewable energy sources look less achievable." Just last month, POET announced they would complete construction on a $4 million pilot-scale cellulosic ethanol production facility by the end of this year and Jeff Broin said he is "more confident about the future of cellulosic ethanol than ever before."
Some ethanol producers have been affected by bad financial decisions lately, no question. But, with corn prices heading back down (futures dropped below $5 today), those who are the most fiscally responsible will continue to turn a profit and keep moving forward. I'm no economist, but it seems that one of the best solutions to our financial problems is to invest even more into domestic, renewable sources of energy that produce jobs and keep more American dollars here at home rather than sending them overseas.
Related Tags: automotive, renewable energy, general, agriculture, world news, automotive - alternative fuels
Matt Hartwig is the Communications Director for the Renewable Fuels Association in Washington, DC. Previously, he worked as the assistant media director for the Consumers Union in Washington. Prior to that, he was the Democratic Communications Director for the Senate Agriculture Committee. Your Article Search Directory : Find in Articles
Recent articles in this category:
- How To Install A Car Alarm Or Remote Start
Car alarm or remote start installation can be very expensive, especially if you already own your sys - Preparing A Vehicle To Sell On Craigslist - What You Need To Know To Get The Most Out Of Your Car
Selling your own vehicle instead of trading in will save you a bit of money. Selling your old vehicl - Appreciating The Volkswagen
In Germany, the term Volkswagen is literally translated as "people's car". The identical named organ - Buying A Classic Car
Do you picture yourself giving that old Chrysler LeBaron to your teenager, and picking up a classic - One The 11th Day Of Christmas I Got A Porshe Fitted Kitchen?
That time of year is close, you can see the seasonal aisles already bursting with Christmas gift ide - Appreciating The Subaru
In 1953, the Fuji Heavy Industries was established in Japan under its chief executive officer, Kenji - Datsun It Wont Disappoint
Datsun's roots go back in as much as 1911 when Masujiro Hashimoto created Kwaishinsha Motors with th - Triumph Fun Fast Affordable
The Triumph Motor Business was formally established in 1930. It held its headquarters in England. Th - A Quick Look Into The Scion
Vehicles are already required. Without it, traveling from 1 place to yet another can be tedious. Bec - Saturn Fun And Affordable
Knowing the previous of every single car is probably one of the finest opportunities you ought to ta
Most viewed articles in this category:
- Honda ATV Parts
ATV owners are always on the look out for good quality ATV parts. This also applies to Honda ATV own - Polaris ATV's
Polaris ATVs are considered as the worlds toughest ATVs currently available. These hardy machines ar - ATV 4 Wheelers
There are many different shipway that people like to travel. From walk to running and play to drivin - Safe Driving Tips. Save Money, Save Your Life!
As you have observed, many drivers are idiots. Here are some tips to avoid accidental run ins with - How Car Dealers' Treat Women
The first time I went on a big car lot to buy a car, was with my girlfriend at the time. The salesp - Dealing with tire troubles
It is therefore your obligation to regularly monitor your tires in order to make sure that they are - ATV Review
I am sure that many of you have heard about ATVS and how they have the ability to go over rough and - Cover up with the Extang Tonneau
Extang is a name not unknown to many in the automotive industry. Having pioneered various - Honda ATV's
There are certain types of names that just fill us with confidence regarding their products. These n - ATV Salvage Yards
There are many people who like to tweak how their ATV performs in various conditions. For these indi
