Biofuels Come of Age Article
The New York Times published an article in September 2006 called "Biofuels Come Of Age As Demand Rises". Here is a summary of its content:
Barack Obama spoke in August 2006 at an event celebrating plans for a new biodiesel plant in Cairo, Ill. His presence was welcomed as a sign of support for a growing industry. Senator Obama joined a renewable energy group in announcing the building of a large refinery and its securing the largest equity investment in biofuels to date.
The investment highlights how the biodiesel industry is coming of age as demand for renewable fuels increases. Growth in the last year has been phenomenal according to Joe Jobe of the National Biodiesel Board (NBB). U.S. production of biodiesel tripled last year over 2004 to 75 million gallons. The NBB estimates that production will double this year, but Mr. Jobe estimates that this number could reach as much as (if not more) than 250 million gallons by year's end.
Several factors are spurring this growth, including a federal ruling on low-sulfur diesel, state mandates on using more renewable fuels, and concern about climate change and dependence on foreign oil. But the strongest incentives currently are high petroleum prices and federal tax credits.
The article goes on to highlight some of the production plants that are springing up across the United States. It is pointed out that small businesses will have to share the industry with "big players" who are now starting to get involved.