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The Biofuels Industry Continues to Take a Pounding as Feedstock Prices and Construction Costs Continue to Rise
Over the first part of 2008, not a single corn-based ethanol plant has started construction, and the biodiesel industry has had only a handful of construction starts. Project cancellations and projects' being put on hold until market conditions improve are almost a daily happening. Corn prices have risen to $7.11 per bushel, and soybean oil is at an all-time high of $5.78 per pound. Flooding in the Midwest has also affected this year's corn and soybean crops, but the industry is not yet in panic mode. Join Jay Brunson, Vice President for Industrial Info's Alternative Fuels Group for an in-depth discussion on the controversial biofuels industry.