 |
Louisiana Light • 4 days | 71.80 | -0.18 | -0.25% | ||
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Bonny Light • 3 days | 76.66 | +1.57 | +2.09% | ||
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Opec Basket • 4 days | 78.31 | +0.00 | +0.00% | ||
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Mars US • 38 days | 79.71 | -2.05 | -2.51% | ||
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Gasoline • 10 mins | 2.049 | -0.001 | -0.02% |
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Bonny Light • 3 days | 76.66 | +1.57 | +2.09% | ||
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Girassol • 3 days | 76.37 | +1.23 | +1.64% | ||
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Opec Basket • 4 days | 78.31 | +0.00 | +0.00% |
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Peace Sour • 8 hours | 58.23 | +1.89 | +3.35% | ||
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Light Sour Blend • 8 hours | 61.23 | +1.89 | +3.19% | ||
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Syncrude Sweet Premium • 8 hours | 64.08 | +1.89 | +3.04% | ||
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Central Alberta • 8 hours | 58.98 | +1.89 | +3.31% |
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Eagle Ford • 4 days | 65.82 | -0.04 | -0.06% | ||
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Oklahoma Sweet • 4 days | 66.25 | +0.00 | +0.00% | ||
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Kansas Common • 5 days | 59.75 | -2.75 | -4.40% | ||
|
Buena Vista • 6 days | 78.44 | -0.72 | -0.91% |
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$26 A Gallon for Biofuel - Is the Navy Paying too Much to be Green?
At the current RIMPAC, the world’s largest international naval exercise, the US are testing the use of biofuel as part of their plan to ‘green the fleet’ by 2016. The USNS Henry J. Kaiser is carrying 900,000 gallons of biofuel/petroleum mix; 700,000 in the form of hydro-treated renewable diesel fuel, and 200,000 gallons of hydro-treated renewable aviation fuel.
The biofuel has been developed from waste cooking oil and algae oil, and cost a staggering $26 a gallon. Republicans in Washington are not happy.
The Navy released a statement declaring that “investments in biofuel will produce a competitively priced — and domestically produced — alternative to conventional fuel. Such investments help the Navy and the nation become less dependent on foreign oil and thus less subject to volatility in oil prices that directly affect our readiness.” This current trial at RIMPAC will be used to “test, evaluate and demonstrate the cross-platform utility and functionality of advanced biofuels in an operational setting.”
Senator John McCain said that he doesn’t “believe it's the job of the Navy to be involved in building ... new technologies,” because he doesn’t think that “we can afford it.”
Ray Mabus, the Navy Secretary, disagrees, suggesting that the Navy has the purchasing power to increase biofuel production, increasing the research and development which will then lead to lower prices.
The Obama administration has also ignored Republican critics by announcing that the Navy, Department of Agriculture, and Department of Energy have invested $62 million in new biofuel projects.
By. Charles Kennedy of Oilprice.com
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There are currently 1,865 biofuel companies driving the cost down. Not all of these are going to survive, but with 1,865 companies working to lower the cost of biofuel the renewable fuel price will be competitive with fossil fuel as finite fossil fuel prices continue to increase towards 2020-2030 timeframe. Thus, the DOD, DOE and USDA's investment is a long-term play not a short-term. If the DOD were to only look at short-term investments - would the Navy have ever invested in nuclear submarines or aircraft carriers? Probably not... think long term here not short term.
If we always made short-term decisions - why would any of us ever go to trade school, vo-tech, or university after high school when we could make quick $ flipping burgers?
Source: http://www.consumerenergyreport.com/2009/05/03/we-do-not-have-a-simple-solution/