Oil Companies Shop for Discounted Ethanol Plants (in Fulton NY)

As a result of the recent struggles in the U.S. ethanol industry oil companies have been buying ethanol plants at a discount, according to the Associated Press, giving oil producers a 7-percent stake in the industry.

From Valero Energy Corp.'s purchase of seven former VeraSun Energy Corp. plants, to Sunoco's bargain-basement buy of the former Northeast Biofuels plant in Volney, N.Y., to Marathon Oil's ventures into plants in Illinois and Ohio, the oil industry has entered into the ethanol industry in a short period of time.

. . . when an oil company buys an existing corn-based ethanol plant it is already grandfathered in on the U.S. Environmental Protection Agency's proposal that limits the carbon footprint of ethanol plants.

See Entire Article Here:
http://www.dtnprogressivefarmer.com/dtnag/common/link.do?symbolicName=/ag/blogs/template1&blogHandle=ethanol&blogEntryId=8a82c0bc218d18ec0121f970b36f059b

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They must figure if you can't beat 'em - own 'em!

Now we know who purchased the MEGA Ethanol plant in Fulton NY - or Volney NY or Oswego County NY (depends who is talking about it). This large plant has been planned for two COES in the Greenshift backlog. Sold for $8.5 million!!!!!!!! Sunoco is one of the largest independent refiner-marketers in the United States and may have gotten one of the best deals at an auction - ever!

http://www.earthtimes.org/articles/show/sunoco-completes-purchase-of-ethanol-manufacturing-facility-in-volney-new-york,861329.shtml

Here is an in depth local view point published today!
http://www.valleynewsonline.com/viewnews.php?newsid=85986&id=1

SkunK