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Pacific Ethanol, Inc. Message Board

  • misskellyfitz misskellyfitz Apr 18, 2013 10:47 AM Flag

    Chevron Will have to Buy Pacific Ethanol to Meet CA. LCFS Standards

     

    With Ethanol Costing More than Gasoline

    This topic is deleted.
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    • Niiiiice

    • its @ 86 bumps now.........I have a feeling Im gonna see 200 BUMPS on this.........w NO result!

    • RIGHT ON TOP

    • Buuuump

    • Poor broke basher.

    • $750 Million Dollars this Year,$750M Next Year etc.....

      (So You Tell Me,Is It CHEAPER than $750M to Buy PEIX,AMTX and Calgren All In 1 SHOT)

      PEIX Market Cap: 43.23M
      AMTX Market Cap: 68.84M
      Calgren ?

      Or

      $750 Million per Year for the Forseable Future

      Valero Says Ethanol Blending Costs To Double or Triple This Year
      The Wall Street Journal
      Updated March 20, 2013, 4:41 p.m. ET

      The company said in a presentation posted on its website this week it will spend $500 million-$750 million buying the credits this year

      $750 MILLION DOLLARS Buying RINs and LCFS Credit Costs This Year !!!

      HOLY "F" they CLOSED Catchlight

      ~ Not the least because oil companies didn’t do a good job of forecasting the price of RINs and are now freaking out over the prospect of paying out zillions to cover the emission credits they would have hedged by building low-carbon fuel capacity. Putting the all-out war against the Renewable Fuel Standard in an interesting context.

      Chevron pulls plug on profitable biofuel venture Catchlight

      Chevron Defies California On Carbon Emissions - Bloomberg
      Apr 18, 2013
      Ben Elgin & Peter Waldman - Apr 17, 2013

    • Raylene will vanish this day.
      Two wins.

    • “The Bloomberg report points to an internal Chevron report, written in 2009, that concluded it would be cheaper to buy renewable energy exemptions than make renewable fuel. According to Bloomberg, a few months after the report appeared, Catchlight’s budget was scaled back. Originally the venture was intended to build 17 plants by 2029, making 2 billion gallons of renewable fuel, starting with a $370 million commitment by 2013 and a first commercial plant in 2014.

      “The projects were projected to make a return on investment of between 5 and 10 percent per year, compared to Chevron-wide average return of 17 percent. According to Bloomberg, the Catchlight board said in April 2010 that there was “no urgency” in advancing the technology, set the minimum annual return at 20 percent to greenlight a project, and reduced Catchlight’s 2013 budget from $370 million to $8.9 million.”

      It’s a cautionary tale in many ways.

      Not the least because oil companies didn’t do a good job of forecasting the price of RINs and are now freaking out over the prospect of paying out zillions to cover the emission credits they would have hedged by building low-carbon fuel capacity. Putting the all-out war against the Renewable Fuel Standard in an interesting context.

      But, in this context, consider that the classic saw with joint ventures is that “you only ever do one” not just because of divergent opinions about the joint opportunity, but divergent opportunities external to the JV.

      JVs are a form of living together without getting married — sometimes partners have divergent levels of commitment when they decide to shack up — and divergent opportunities elsewhere when the moving boxes appear.

      • 7 Replies to misskellyfitz
      • Buuuump

      • Buuuuump

      • Chevron pulled plug on profitable biofuel venture Catchlight

        While the 5-10 percent margins of Catchlight may not have been huge, the technology would help Chevron meet its compliance obligation to the LCFS.

        Chevron has cut R&D funds for advanced biofuels while scaling up its attempts to dismantle our clean fuels law. The law was put in place in 2010 to help grow our economy and clear our air, and companies like Chevron had seats at the table when the law was written. But around the same time the law was being hammered out, Chevron decided the profit margins of its nascent advanced biofuels project, Catchlight Energy, were not high enough, and it divested in its operations.

        Instead of investing in renewables, Chevron amplifies its anti-LCFS voice through the trade organization Western States Petroleum Association

        They need to know that some renewable fuels under development will provide a new product for
        refineries to blend, a renewable product that will last long after our fossil fuels have run out. For example, Tesoro is purchasing Sapphire’s “green crude” for refining. This helps protect refinery jobs.

        Valero blending Costs $750 million this year to Comply Low Carbon Fuel Standard Credits are Another Huge expense to Refiners

        To hear the oil industry tell it, California's “low carbon fuel standard” is a train wreck waiting to happen. .... Chevron VP: forget cellulosic biofuel, build better cars.

        Supporters of the California rule are confident it will survive these attacks. But some worry that the
        rule's vulnerability is making investors leery of clean fuel projects. "It's undermining the clean fuel investment certainty in the market," said Simon Mui, director of the California Vehicles and Fuels program at the Natural Resources Defense Council

        Companies can comply by producing more low-carbon fuels, by buying cleaner fuels or carbon credits from other companies

      • Now Chevron has been defying the State of CA. Since April 17th On Carbon Emission.

        (Somethings Got to Give)

        $63 LCFS Credits and $1 RINs

        " Oil companies didn’t do a good job of forecasting the price of RINs and are now freaking out over the prospect of paying out zillions to cover the emission credits "

        (Not to Mention LCFS Credits)

        Chevron Will have to Buy Pacific Ethanol to Meet CA. LCFS Standards

        “The Bloomberg report points to an internal Chevron report, written in 2009, that concluded it would be cheaper to buy renewable energy exemptions than make renewable fuel. According to Bloomberg, a few months after the report appeared, Catchlight’s budget was scaled back. Originally the venture was intended to build 17 plants by 2029, making 2 billion gallons of renewable fuel, starting with a $370 million commitment by 2013 and a first commercial plant in 2014.

        “The projects were projected to make a return on investment of between 5 and 10 percent per year, compared to Chevron-wide average return of 17 percent. According to Bloomberg, the Catchlight board said in April 2010 that there was “no urgency” in advancing the technology, set the minimum annual return at 20 percent to greenlight a project, and reduced Catchlight’s 2013 budget from $370 million to $8.9 million.”

        It’s a cautionary tale in many ways.

        Not the least because oil companies didn’t do a good job of forecasting the price of RINs and are now freaking out over the prospect of paying out zillions to cover the emission credits they would have hedged by building low-carbon fuel capacity. Putting the all-out war against the Renewable Fuel Standard in an interesting context.

        But, in this context, consider that the classic saw with joint ventures is that “you only ever do one” not just because of divergent opinions about the joint opportunity, but divergent opportunities external to the JV.

        JVs are a form of living together without getting married — sometimes partners have divergent levels of commitment when they decide to shack up — and divergent opportunities elsewhere when the moving boxes appear.

      • I can wait.

    • worth the wait.

    • sad sack life of raylene...just imagine what this imbecile's every day is like.

      ooooooh man!!!!!!

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