Chemically Green
Chemically Green is Going Social
I’m proud to announce that Chemically Green is becoming increasingly more attuned to social media. It’s a great way for me to keep up on news in green/biofuel arena. In response, I’ve created a Twitter account so that you may keep a closer watch on Chemically Green and my latest posts. Follow me on Twitter, and I’ll do the same for you!
Freezing Temperatures Follow Al Gore to Harvard!
Did Al Gore get Frozen Out when Presenting His Speech on Global Warming at Harvard University?
Picture Credit: This picture is not real
Did Al Gore plan on the freezing temperatures at Harvard this week as he presents his speech on Global Warming? Note, the speech was presented on Wednesday night, the coldest night in zip code 02138 so far this week. (Read on …)
The Impossible Dream? 50% Cellulosic Ethanol
Picture Credit: Anemergencystop
Is the U.S. Falling behind on Meeting its 2022 Goal of 50% Mandated Cellulose Ethanol (biofuels)?
The government has ordered (mandated) that 36 billion gallons of biofuel be blended into the fuel supply by 2022. Of that, 16 billion must be cellulosic ethanol. No more than 15 billion can be corn ethanol, with the rest coming from other biofuel sources, such as the residue left from sugar production, wood, grass, corn stalks, garbage and waste streams into 16 billion gallons of cellulosic biofuels annually by 2022. Don’t forget kudzu.
“The United States could not move that much ethanol today if it had to,” said biofuel consultant Bill Caesar, a principal with McKinsey & Co. “There are a lot of other pieces of the puzzle which need to fall in place over time before we hit these very big numbers.”
No commercial-scale refineries exist, researchers have yet to agree on the best technology for fuel conversion and there is no distribution network to handle fuel once it is made. This is the current cellulosic biofuel status even though there are many research and pilot plants being constructed this year. If oil prices hover around $140.00 per barrel, then there will be a chance that investors will get a good payout on their investment. But with the current price of oil being less than $80.00 per barrel, the reality of investing in a cellulosic biofuel operation is risky. With the current state of the economy, will investors want to focus on green cellulosic fuels or other financial investments that promise greater returns?
At least a minimum 200 ethanol production plants capable of producing 100 million gallons per year will be needed to meet the EPA’S standards. Folks that an estimated 200 plants for meeting the 50% cellulosic standard.
There are pros and cons for cellulosic biofuels, but how long will it take to get the necessary production facilities up and running to make the required gallons of ethanol required to meet the EPA Goal in 2022? What happens if oil prices stay relative low compared to $140.00 a barrel and corn price start dropping because of our slowing economic conditions? Americans are creatures of old habits and will cheaper gasoline prices and our economic slow down mean less interest in “green solutions” and ending our oil addiction?
Cellulosic ethanol has to be a main area of focus of the U.S. if we are ever going to use less oil and gasoline because of all the benefits offered by cellulosic fuels. What will it be America? Stop the outflow of American dollars to the oil rich nations or keep drinking kool-aid and supporting our oil addiction?
Time will tell. Read the complete Story here: (Source MSNBC)
Some Pig: Bailout Dollars Allocated to Green Projects
Pork Rules
Pork Rules Picture Credit: Denver Museum of Nature
We use to hear about government subsidies for the people, but with the massive bailout just completed, I believe we the people are subsidizing the government more ways than we can imagine.
The bailout bill had some real goodies for the environment and green projects. The inclusion of the items was the price of support from many House members who were otherwise aghast at the $700 billion bar tab that must be picked up to save the global financial system from a 1930’s style meltdown.
In the blink of an eye, energy tax credit provisions that had been introduced and failed eight times during the 110th Congress passed without comment, almost without notice. A band of committed alternative energy supporters, and a host of lawmakers trying to prevent a complete financial crisis within 45 days of a national election, made the Wall Street bailout happen. What happened? Do you think the bailout bill was even read by the Congress? The alternative energy supporters were smart enough to pork in many items in the bailout bill, but when where these pork items added? I bet this bill had been prepared weeks before the so called financial crisis was dumped on the American public. Duped again and most of the money has been earmarked into pet projects. (Read on …)
Is Jatropha Curcas Biodiesel Losing out to Algae Biodiesel?
Picture Credit: Benjamin Arseguel
A recent post on Chemically Green “The Truth About Jatropha Curcas” lists the pros and cons for growing Jatropha Curcas. India, which has researched extensively in growing Jatropha, has been investing heavily in Jatropha Curcas for biofuel production for their own automobile transportation. Early reports on Jatropha Curcas stated this bush could be grown on marginal land and little irrigation and this has not proven to be factual. Check out: “Biodiesel Being Made from Tree Nuts”. (Read on …)
Riding the OPEC Oil Roller Coaster
Picture Credit: Warner Schnell
We are all familiar with the old phrase: “What Goes Up Will Come Down,” so has the Oil Bubble burst because of economic conditions? How long will the lower prices last? (Read on …)
California Needs A Bailout Loan! Who’s next?
Picture Credit: Alvhyttan
SACRAMENTO –”California Gov. Arnold Schwarzenegger, alarmed by the ongoing national financial crisis, warned Treasury Secretary Henry M. Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within weeks.
The warning comes as California is close to running out of cash to fund day-to-day government operations and is unable to access routine short-term loans that it typically relies on to remain solvent. (Read on …)
The Truth is Painful. Most People Don’t Care!
Green but not Forgotten!
Picture Credit: Marty (Slidewayze)
“No matter how good you are at something, there is always about a million people better than you.” - Homer Simpson
Headline News: Senate Version of Bailout Bill is up to $850 Billion Dollars. Will anyone guess what the final total bill will be when voted on? Mediocrity kills greatness. When this bill passes and President Bush signs the bill, America sold out! Socialism is alive and well.
The financial crisis is a Wall Street problem:
“Let’s be clear: This is a Wall Street crisis, not a national economic crisis. The overall economy, while a bit weak, is still growing. Some politicians are comparing the current environment to the Great Depression. But in 1932, when the federal government last moved to bail out the banking sector, economic output had fallen 45 percent and unemployment was a staggering 24 percent. Today, economic output is actually up and unemployment is a historically modest 6.1 percent. The overall economy doesn’t even face a liquidity crisis in the current turmoil. Consumer, commercial/industrial, and real estate loans are all up over last year. Main Street is doing fine. The liquidity crisis is confined to Wall Street, between and among investment banks, insurance and securities firms, and hedge funds. There is the possibility that the contagion could spread, but in a global capital market, this is hardly certain.
Fannie Mae and Freddie Mac Cooking the Books
Fannie Mae and Freddie Mac were going through a crisis. In 2003 and 2004, an accounting scandal was revealed. The two public-private partnerships were cooking the books to show phantom profits. The Bush administration and its allies on the Hill pushed a strong bill to reform how these institutions operated. The measure came very close to passing, but Fannie and Freddie cut a deal. They would refocus on expanding mortgages for low-income borrowers if the feds kept out of their operations. The bargain worked. Virtually all the Democrats and a few Republicans backed the two companies and the reform effort failed.
Fannie and Freddie then went on a subprime bender. They made it clear that they wanted to buy all the subprime or Alt-A mortgages that they could find, eventually acquiring around $1 trillion of the paper. The market responded. In 2003 subprime mortgages made up less than 8 percent of all mortgages. By 2006, they were over 20 percent. Banks knew they could sell subprime products to Fannie and Freddie. Investments banks realized that if they laced ever increasing amounts of subprime mortgages into the MBSes, they could juice the returns and so earn bigger fees. The rating agencies, thinking they were simply dealing with traditional mortgages, didn’t look under the hood.” Read the Full Story: Source: reasononline (Read This)
More Bailouts in the Future: If Fannie Mae and Freddie Mac were free market institutions, they could not have gotten away with their risky financial practices because no one would have bought their securities without the implicit assumption that the politicians would bail them out.
It would be better if no such government-supported enterprises had been created in the first place and mortgages were in fact left to the free market. This bailout creates the expectation of future bailouts.
Burning Down the House: Picture Credit: Nogontrol
They tried to ban it, but it’s back! Youtube video, Burning Down the House!