The SkunK has kept a list of Ethanol Plant backend corn oil producers that are not known to have an agreement with GreenShift - and are not yet litigants in the patent trials. SEE HERE. We have kept an eye on Lake Area Corn Processors - they may have had an early relationship with GreenShift. Here is part of their 2Q corn oil update:
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"During the second quarter of 2010, we sold approximately 1,545,000 pounds of corn oil compared to approximately 777,000 pounds of corn oil during the second quarter of 2009. This increase in the number of pounds of corn oil that we sold was the result of more run time and improved efficiencies during 2010." (p.17)
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Now this sounds OK until one looks at this SkunK's Blog covering Lake Area Corn Processors for the previous quarter. There you would see that they produced 1,772,000 ponds of corn oil in the 1Q - as opposed to 1,545,000 ponds in the second quarter. This a significant decrease of about 13%. Now if they are selling apples - then we would have seasonal variations and a second quarter to second quarter comparison would be useful. BUT ETHANOL/CORN OIL is a 24/7 - 365 day operation and subsequent quarters ARE the best way to compare.
SkunK's 1Q Report on Lake Area Corn Processors
Lake Area Corn Processors 1Q - p 18
Lake Area Corn Processors 2Q - p 17-18
So why are they using the 2Q of 2009 to compare? The answer seems obvious to the SkunK. They are producing less corn oil with a non-patented COES in the second quarter of 2010 than they did in the first quarter of 2010 - according to their own reporting. Yet they tell their stakeholders that things are getting better with their non-patented COES by using a 2q 2009 to 2Q 2010 comparison.
Here is some more info . . .
"The average price we received for our corn oil during the second quarter of 2010 was approximately 30% higher than the price we received for the second quarter of 2009. This was an increase of approximately $0.06 per pound. Management attributes this increase in corn oil prices with higher prices in the energy markets. Management anticipates that corn oil prices will remain relatively stable. We are continuing to refine our operation of the corn oil extraction equipment and anticipate that this may lead to increased production in the future." (p.17&18)
SkunK
Saturday, August 14, 2010
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