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Refiners Fined for Failure to Use a Non Existent Fuel
Posted: Fri. Jan. 13, 2012 6:26 am
by Richard S.
http://www.nytimes.com/2012/01/10/business/energy ... .html?_r=1
When the companies that supply motor fuel close the books on 2011, they will pay about $6.8 million in penalties to the Treasury because they failed to mix a special type of biofuel into their gasoline and diesel as required by law.
Green
But there was none to be had. Outside a handful of laboratories and workshops, the ingredient, cellulosic biofuel, does not exist.
Re: Refiners Fined for Failure to Use a Non Existent Fuel
Posted: Fri. Jan. 13, 2012 8:36 pm
by CapeCoaler
Re: Refiners Fined for Failure to Use a Non Existent Fuel
Posted: Fri. Jan. 13, 2012 10:09 pm
by Richard S.
Thanks for the links, I followed up on one and came across this. Looks like another company that has been given a huge sum of money and failed:
http://www.bloomberg.com/news/2012-01-04/range-fu ... atech.html
Range Fuel’s plant, located in Soperton, Georgia, was completed in 2010 and was shut in January 2011 without ever producing ethanol. It was designed to process wood chips into as much as 10 million gallons (37.8 million liters) of biofuel a year with plans to expand this to 100 million gallons.
The Agriculture Department announced an $80 million loan guarantee for the project on the final day of President George W. Bush’s term. The Energy Department, under the same administration, offered a $76 million grant for the plant.
Range received $46.3 million of the grant and $42 million of the guaranteed loan, before the outstanding balance was repurchased by the Agriculture Department Nov. 17, according to an Agriculture Department document. Broomfield, Colorado-based Range received more than $160 million from private investors before shutting the plant.
Re: Refiners Fined for Failure to Use a Non Existent Fuel
Posted: Fri. Jan. 13, 2012 10:15 pm
by SMITTY
You beat me to it Richard! I came across this story the other day ... and had the usual "what the hell could POSSIBLY be next" thought. Unbelievable.
I'm wondering when they're going to mandate homeowners to burn ONLY this unobtanium ghost fuel ......
Re: Refiners Fined for Failure to Use a Non Existent Fuel
Posted: Fri. Jan. 13, 2012 11:18 pm
by CapeCoaler
Not too bad $240 million from investors an the Gov...
The top dog walked with some nice change I bet...
Re: Refiners Fined for Failure to Use a Non Existent Fuel
Posted: Sat. Jan. 14, 2012 10:52 am
by samhill
Wonder if Range Fuels is a division of Haliburton.
Re: Refiners Fined for Failure to Use a Non Existent Fuel
Posted: Sat. Jan. 14, 2012 12:33 pm
by Richard S.
samhill wrote:Wonder if Range Fuels is a division of Haliburton.
Unlikely ANY traditional energy company was involved with this. My understanding is most won't touch these projects with a ten foot pole for the very reason this topic was started.
Other than the risks even with the government involvement they are also have concerns the government will pull the rug out from under them. For example how many billions of dollars in private investment goes down the drain if the ethanol mandate is removed?
Re: Refiners Fined for Failure to Use a Non Existent Fuel
Posted: Mon. Jan. 16, 2012 11:02 am
by Smokeyja
What's next? Sh*t powered cars and houses GO GREEN
The ULTIMATE BIO fuel!