Chevron moving into biodiesel production
Oil giant Chevron has invested in a new 20-million gallon per year / 75.7 million litre per year soybean oil biodiesel production plant in Galveston, Texas. Plans are already underway however to increase production initially to 60 million gallons and then 110 million gallons over the next year.
Chevron owns 22 percent of the $10 million plant which is run by BioSelect Fuels. BioSelect has said that to be successful in the long-term, the plant will have to move away from expensive food crop feedstocks to cheaper nonfood crops with higher energy potential, such as castor beans or Chinese tallow trees.
Analysis: It's good to see big oil have a go with biofuels. A new biodiesel plant is a whole lot cheaper than developing a new oil field (are there any new oil fields left?), the trick, as always, is to get the feedstock for the right price.
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[Source: MyWestTexas.com]
Reader Comments (Page 1 of 1)
Howard Lee Harkness 6:31PM (3/07/2007)
"It's good to see big oil have a go with biofuels."
Just wait until their lackeys in Congress move to make small-scale biodiesel production illegal. The 'regulators' (the best that money can buy) here in Texas are already working on it.
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Karen Schmidt 8:38PM (12/27/2007)
Howard,
I'm afraid you'll need to update your post re: Chevron "Just wait until their lackeys in Congress move to make small-scale biodiesel production illegal. The 'regulators' (the best that money can buy) here in Texas are already working on it."
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