High oil prices fuel biodiesel switch
BIODIESEL is a worldwide phenomenon with multi-million dollar projects sprouting up in US, Europe and Asia.
Its advocates claim that biodiesel - a mixture of any vegetable oils (rapeseed, palm oil, soyabean and others) and petroleum diesel - is environmentally friendly and can be distributed using existing infrastructure.
As economies of scale improve, it could even replace fossil fuels as the world's primary transport energy source.
A Malaysian Palm Oil Board official said with the current biodiesel price of US$700 (RM2,576) a tonne, the industry gets a profit margin of US$200 (RM736).
"Never in the history of palm oil did we get this sort of profit margin. When the oil prices go further up and palm oil prices dip, the better the profit margin," he said.
story continued
Its advocates claim that biodiesel - a mixture of any vegetable oils (rapeseed, palm oil, soyabean and others) and petroleum diesel - is environmentally friendly and can be distributed using existing infrastructure.
As economies of scale improve, it could even replace fossil fuels as the world's primary transport energy source.
A Malaysian Palm Oil Board official said with the current biodiesel price of US$700 (RM2,576) a tonne, the industry gets a profit margin of US$200 (RM736).
"Never in the history of palm oil did we get this sort of profit margin. When the oil prices go further up and palm oil prices dip, the better the profit margin," he said.
story continued
posted by anthony m, at Sunday, August 13, 2006
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