Building For Biofuels
ENERGY
HEADNOTEUncertainty in oil prices is just one reason ethanol producers are building more plants in the U.S.
At Iogen Corp., ethanol is made by enzymatically breaking down plant waste and then fermenting it in huge tanks.
ONE MIGHT ASSUME that the recent surges in oil prices would prompt fuel consumers to beat a path to U.S. ethanol producers-but where in the heck are they? The answer is that indeed producers are building ethanol plants here, albeit their plans predated this year's oil-price panic.
"It hasn't hurt," Maurice Hladik says of the jagged nature of oil prices. "But we're not planning on that as a strategy because the minute the prices go back down, you look silly. But we think below-$20-a-barrel prices are a thing of the past."
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