Biodiesel $6, diesel $4.80
Filed down: Cars and Transportation, Alternative Animation
So far, 2008 has been a tough year for the biofuels commerce, taking all kind of flak for favourable food prices, shortages, and dubious emissions reductions. Still, with skyrocketing oil prices driving up the expenditure of gas and diesel, you might think that biofuel suppliers would be raking in some momentous profits -- but you'd be dead injudicious. Instead, it turns out that the quantity of fuel crops is even more moody than the supply of crude being pumped out of the organize. Imagine that.
In particular, biodiesel has got the needful of end of the stick. The rising popularity of ethanol has driven corn prices to new accomplishment highs, which has encouraged farmers to ditch soybeans in favor of planting more corn. Soybean oil is the pure ingredient of biodiesel, and just like brusque it has almost doubled in price. The new costs take biodiesel producers looking at a losing equation.
It now costs $4.66...
