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November 30, 2006
T. Boone Pickens calls Peak oil NOW
He may be a bit self serving as he is trying to get his natural gas filling stations public right now, but Pickens is an oil man to the core and if there were more to be found, I am sure he would rather do that.
LITTLE ROCK, Ark. Texas oilman T. Boone Pickens tells central Arkansas business leaders today that the world has reached peak oil production and the United States, in particular, needs to find alternative sources of fuel.
Pickens made the comments in Arkansas at the Little Rock Chamber of Commerce's annual meeting.
The 78-year-old Oklahoma State University alumnus says about 85 million barrels of oil are produced a day throughout the world.
But he says because there are probably not any large, undiscovered oil fields left, the increasing demand for oil is rapidly diminishing the remaining supply.
Pickens founded Mesa Petroleum Company in 1956 and in September ranked 103rd on the Forbes magazine list of the 400 richest Americans, with 2.7 billion dollars from his oil and gas investments.
He now runs B-P Capital, a private investment firm interested in energy futures and stocks of public companies in various energy sectors.
http://www.kten.com/Global/story.asp?S=5735611
Posted by Martin at 9:42 AM | Comments (0) | TrackBack
my upcoming Starbucks cup
During late April and May, when you order your latte you may see a quote from me. This is prettyStarbucks Cup Martin tobias quote cool...
Posted by Martin at 7:37 AM | Comments (0) | TrackBack
November 27, 2006
a lame duck finally takes action in Alaska
This little tidbit went largely unreported today: Alaska to strip oil companies of leases. The outgoing Governor of Alaska, Frank Murkowski stripped Exxon Mobile of it's natural gas leases after the company failed numerous times to develop the resources. I bet China would develop them. States have long let large oil companies run roughshod over their resources and slack off in numberous ways (environmental stewardship, investment, timeframe for resource development). Too bad it took loosing an election to get the governor to act, but finally something is happening. States need to stand up to big oil more often and not shiver in their boots at every meeting.
I remember when I was on the school board in Medford Oregon during highschool. The soda companies kept coming in every year for an extension of their leases of soda machines on school property. I said take them out, they only make the students fat. The "administration" and "professional" school board members valued the money the machines brought in more than the health of their students. The machines stayed. That was 25 years ago. Today many school boards are pulling the machines out and dealing with the loss of revenue in favor of student health. That one took too long as well. But the tide turned eventually. Hopefully the Alaska governor action is the beginning of a turning here as well. Hold the bastards accountable to the public whose resources they expoloit.
Posted by Martin at 7:45 PM | Comments (0) | TrackBack
Corn up 92% what happens to biofuels?
This off the wire today:
"Corn higher as weak dollar boosts exports
Corn prices rose in Chicago for a sixth straight session because a weaker dollar makes the grain cheaper for importers. Currently, corn is riding a ten-year high. Prices are also being boosted by forecasts that global demand will exceed supplies. Corn for March delivery was trading up 3.5 cents to $3.895 a bushel at 10:59 am Eastern in Chicago. The grain earlier touched $3.935 a bushel. Prices are up 92% in the past year as a warm summer reduced supply and demand for the grain to produce ethanol rose to a record."
Corn going crazy due to low dollar and high ethanol demand. Soy oil going crazy due to competition for acreage from corn and budding biodiesel demand. How is this all going to work out for biofuels? It is going to drive new biofuel sources that are not so easilly manipulated by traditional ag players. I expect crops specifically designed for biofuels to be accellerated due to these recent events. At today's crack spreads in Ethanol, there is no money to be made. Look for more pull-back in ethanol stocks and delayed projects.
Posted by Martin at 1:13 PM | Comments (0) | TrackBack
November 22, 2006
The future of biodiesel feedstocks
Environment blog over at Seattle PI muses about Soylent Green and the future of biodiesel feedstocks... Can Soylent Green save the world... and our climate? Welcome to the new biodiesel
Posted by Martin at 8:57 AM | Comments (0) | TrackBack
November 17, 2006
Democrat presidental candidates to make alternative fuels a core platform
Iowa Governor Tom Vilsack, a Democrat candidate for president, said that renewable energy has the potential to unite the country, reinvent the economy and make the country more secure. (My prediction is that this will be a consistent theme amongst politicians across party lines moving forward, what I've been referring to as the Biopartisan nature of this issue).
Vilsack stated that this will be one of the pillars of his campaign platform, following a speech at the University of Colorado School of Law. He highlighted his state's leadership status in corn-based ethanol and soy-based biodiesel production.
Though Vilsack is officially the only Democrat contending for the office of president in 2008, unofficially there are a number of his party peers who are presumed to be running and are better known than he is. Vilsack has planned a multi-state tour to begin Nov 30 to formally announce his bid for office. He stated bluntly, "I think I'm the one person in this race who's doing something about it. There are a lot of people talking about it, but we've actually done something to promote renewable fuel."
Posted by Martin at 11:15 AM | Comments (0) | TrackBack
November 14, 2006
What does your oil money fund?
check out a well researched story in the LA times: Oil revenues fuel resistance to U.S. - Los Angeles Times.
"Iran maintains a costly nuclear program while spending billions to subsidize everything from apartments to gasoline. Russia defies international demands to give up a monopoly on oil pipelines to Europe. Venezuela sends aid to countries around the globe in an effort to expand its influence.
What all three have in common are treasuries swollen by the high price of oil."
We are funding discontent and people who do not like us all around the world. Come on America.
Posted by Martin at 11:57 AM | Comments (0) | TrackBack
November 13, 2006
Handy biodiesel site helps find stations...
Driving aroudn jonesing for biodiesel? Surf over to www.nearbio.com on your phone. Enter the zip code, city and state OR GPS coordinates (for the Really geeky) and find the station! Thanks to: Biodiesel finder for your cell phone | Inside Greentech for the pointer. Now all they need is google earth integration...
Posted by Martin at 11:25 PM | Comments (0) | TrackBack
WSJ jumps on renewable energy bandwagon
Yes even the WSJ. Not in an editorial, but reporting a new RAND report soon to be released: Renewable Fuels May Provide 25% of U.S. Energy by 2025 - WSJ.com. I learned something new from this. The forested areas in industrialized countries are actually INCREASING. And the study further finds that renewable fuels like ethanol and biodiesel are a cheaper way to reduce net carbon emissions than mandating more carbon reducing technlogies on old coal plants for example. It totally makes sense. increase the percentage of your fuels that come closed loop, no net new carbons. Reduce the digging up of old dinasaurs in various stages of decay and releasing their carbon without off-set into the atmosphere. Hey, there is an idea....
Posted by Martin at 10:58 PM | Comments (0) | TrackBack
Live more petroleum free
Why buy petroleum based products when there are good performing options? I needed a new life vest. B O D Y G L O V E makes one called the Eco that has ZERO petroleum based products. Now that is cool. I am wearing it surfing next weekend as it is going to be BIG.
Posted by Martin at 9:58 PM | Comments (0) | TrackBack
More gadgets - the best coffee press
Tonight was going to be an e-mail catch-up night, but it has turned into an on-line buying spree. Had a coffee from one of these: Aerobie� AeroPress(TM) Coffee & Espresso Maker last week at a friend's house. Being from Seattle and a VERY discriminating coffee drinker, I have to say it was a damn good cup o jo. So a couple e-bay and paypal clicks later and one is whisking its way northward from Florida as I type. Go Joe...
Posted by Martin at 9:55 PM | Comments (0) | TrackBack
The best thing from the election - more renewable energy
Frequent readers will know that I had alot of disappointments in individual races last week. But Washington voters added one shining light to the whole thing by passing I-937: Climate Solutions. Washington now joins 20 other states which require over time their utilities to start purchasing more and more renewable electricity. In the Washington case, 15 percent of large utility power must come from renewables by 2020. The most important part of this legislation is in the details. Renewables liquid fuels like biodiesel and ethanol burned in existing generating assets will qualify for the mandate. This is the first time those fuels have been called out specifically in a mandate like this. This provision opens up a key option to building a bunch of new generation assets, reuse existing ones with new fuels. That will make it a whole bunch easier for utilities to comply. Heck, you can even turn a coal fired power plant into a renewable electric plant by changing the fuel. I predict this will happen in the next 5 years. You read it here first.
Posted by Martin at 9:32 PM | Comments (0) | TrackBack
Balance is hard, practice is good
Balance is a key part of surfing which I love to do when not making biodiesel. After trying a bunch of different balance boards and techniques, I have decided to get this one: Balance360.com - Home. My favorite simple trick is still knee bends on top of the swiss ball, but this balance board is wigglier. After first getting the basics down (not falling off), try some exercises on it like curls, knee bends, twists, lunges, etc. Just like you were surfing!
Posted by Martin at 9:17 PM | Comments (0) | TrackBack
November 8, 2006
Voter frustration boils over to voting machines
Crazy day yesterday: Pa. voter attacks voting machine - Voting Problems - MSNBC.com
Posted by Martin at 9:28 PM | Comments (0) | TrackBack
November 6, 2006
The Fueling Station blog in Tampa picks up Kurt/Biodiesel story
The editor of: Fueling Station | Tampabay.com - St. Petersburg Times e-mailed me to say they picked up the Cobain/Biodiesel story from the NYT this weekend on their blog. Intrigued I clicked over. What I found is a very well edited blog focusing on fuel alternatives. Even found a potentially interesting source of ethanol - citrus waste. Thanks David for putting this together.
Posted by Martin at 8:19 AM | Comments (0) | TrackBack
November 5, 2006
Kurt Cobain and Biodiesel
Usually I steer clear of the New York Times. But today they did a good job reflecting on Kurt Cobain and biodiesel: Biofuel Plant Raises Hope Where a Rocker Brooded - New York Times. I am a huge fan of Kurt Cobain. I was at Nirvana's last show in Munich Germany. I still have the ticket in my safe. Kurt looked like he wanted to die. The past is always haunting the future.
Posted by Martin at 9:04 AM | Comments (0) | TrackBack
New bioplastics coming (again)
David Grewell out in Iowa talks like plastics from Corn and Soy are a novel idea: ScienceDaily: Researchers Improving Plastics Made From Corn And Soy Proteins. He must have missed Natureworks making packaging from corn for the last 5 years. Despite the self-serving research funding seeking nature of the press release, there is a nub of something interesting in there. The work on plastics from glycerine byproduct of biodiesel manufacturing from soy oil. There is no commercially viable formula for that today. It would be nice if Grewell and his team could come up with one. Unfortunately the truth is at the end of the article:
"The researchers' plastics aren't quite ready to leave the laboratory. Grewell said he's working on production recipes, processing techniques and ultrasonics applications. Kessler will also work to characterize the plastics' strength plus its thermal and mechanical properties."
In English: "Send me more money and I might be able to make this work".
Posted by Martin at 8:50 AM | Comments (0) | TrackBack
Peak Energy by Big Gav
Thanks for the comment this morning Big Gav and the pointer to your blog: Peak Energy. Very good perspective from outside the US. I have added to my RSS and will be an avid reader.
Posted by Martin at 8:41 AM | Comments (1) | TrackBack
November 4, 2006
A story about "The Future of Work: How the New Order of Business Will Shape Your Organization, Your Management Style and Your Life"
I mispoke. The VERY last thing I want to read now is another management book on how the workplace is going to “change”. The thought of that is even worse than humanitarian utopia books.
Posted by Martin at 8:36 PM | Comments (0) | TrackBack
A story about "The End of Oil : On the Edge of a Perilous New World"
There are lots of books out now about the end of oil. Paul Roberts does a better than average job describing the impacts. This is not a light or happy read. If you want to be scared, read it. If you have already read The Prize or seen the End of Suburbia, or clicked through the site LifeAfterTheOilCrash.net, you already know everything. I rate 3 of 5 stars. Not seminal work, but worth the read.
Posted by Martin at 8:33 PM | Comments (0) | TrackBack
A story about "Radical Evolution : The Promise and Peril of Enhancing Our Minds, Our Bodies -- and What It Means to Be Human"
I just can’t be bothered to read yet another humanistic utopia book right now. I am not in that kind of mood.
Posted by Martin at 8:31 PM | Comments (0) | TrackBack
A story about "Lance Armstrong's War : One Man's Battle Against Fate, Fame, Love, Death, Scandal, and a Few Other Rivals on the Road to the Tour de France"
Lance is a true American hero. Not perfect, but unbelievable driven. His ability to destroy the competition is unhuman. The author lived with Lance for over a year and a half. This is the best book on professional cycling I have ever read. And a keen insight into what makes Lance tick. A must read for every cyclist. A should read for every competitive American. I rate 4 of 5 stars!
Posted by Martin at 8:29 PM | Comments (0) | TrackBack
A story about "Imperium: A Novel of Ancient Rome"
So I work for this company called Imperium Renewables. We make Biodiesel. When Imperium the novel came out I just had to get it right away. Robert Harris writes about life of Cicero as told by his slave scribe Tiro, the inventor of shorthand. Very engaging. I kept wanting to get back to it. I also want to read the next one which will undoubtedly be about Ceasar who is just getting his political career going as Cicero becomes Counsel. The political intrigue and parallels to the factious infighting we have today was striking (and probably intentional). Much more corruption back then though. I recommend it 4 of 5 stars!
Posted by Martin at 8:22 PM | Comments (0) | TrackBack
Thoughts on Peak Oil
Maybe I have been reading too many gloom and doom sites lately, but Peak Oil has been on my mind. And in my reading material. After nearly two years reading, thinking, debating and actually doing something about it, I have come up with a couple of conclusions.
1. Peak Oil is real and imminent (next 1-4 years) if not already past. World wide oil production is unlikely to ever exceed 85 million barrels per day (around 82MBPD today).
2. Once at a world wide Peak, oil production will plateau for some time, propped up by "new" fields, the tar sands and other previously non-economic sources. But despite billions of dollars in investment and exploration, total WW oil production will not improve significantly and will eventually start to trail off.
3. During this plateau, oil prices will be wildly volitile as promisses of new sources and alternatives stoke the fires of hope and terrorism, war, OPEC restrictions, etc. stoke feelings of dispair. Don't forget, the vast majority of the world (including western governments) does not and will not have the facts about true oil production, reserves, discoveries, etc. Those few states run enterprises who do have the information have zero interest in letting the rest of the world know the plateau is here and every interest in keeping prices high and extracting every last dollar out of their resource.
4. We will be years into the plateau and possibly down the slope of the Peak before most people know what hit us.
5. There are few short term solutions. When recognition of the plateau and Peak starts to set in, there will be a rush to any near term hopes, especially "plug compatible" replacements like biodiesel and ethanol.
6. The only sure effect of all this is increased Volitility. Check out the CBOE VIX. Tight supply/demand of oil begets high volitility. During the Plateau Volitility will be at record highs. If you look at Oil in the last year and a half versus the prior 10 years, the volitility of prices has been off the charts. I believe increased volitility is a leading indicator of the Peak.
Now, what to do with these insights? Well invest in plug compatible alternatives to oil of course which I have done. If you are really cheeky, you might take bullish positions on companies whose markets are highly dependent on stable or predictable fuel prices. That one is tricky though because you would have to get widespread realization that we are on the plateau and heading toward the cliff to get a payoff. I don't think you need to have that realization to benifit from investments in alternatives.
Posted by Martin at 11:35 AM | Comments (0) | TrackBack
A couple compelling global warming pictures
I was re-reading a report on peak oil this morning and am reminded of the global warming effects of oil use yet again. Look at the Tsunami damage in Thailand and the dwindling Arctic Sea Ice and the effects are clear. While I am not an expert on what is causing global warming, the fact that it is happening and that it is related to a tipping point of carbon in the air is impossible to deny.
Posted by Martin at 11:09 AM | Comments (2) | TrackBack
November 3, 2006
Verasun stumbles into biodiesel with weak promises
The ethanol business is hard these days. Both Verasun and Aventine are trading below their IPO prices. Gas prices are down 30% from summer highs. Ethanol prices are down 50% from summer highs. Two recent ethanol deals have been pulled from the IPO process. Investors have definitely popped that bubble. So what is a struggling ethanol company to do? One tactic would be to promise a new ethanol technology like cellulosic, but it is simply not ready for market (see Xethanol) and when your shareholders figure that out, they may sue you. Another tactic would be to diversify and look like some kind of leader in the next renewable fuel. VeraSun for now seems to be taking the later by announcing their intention to make biodiesel from their corn oil.
"VeraSun is currently evaluating locations for a 30-million-gallon-per-year biodiesel production facility, with plans to commence construction in 2007 and begin production in 2008. The Company has contracted with Lurgi PSI, Inc. for design and engineering services for the biodiesel facility and with Crown Iron Works Company for oil extraction equipment. As a result of the exclusivity provisions in these contracts, VeraSun expects to be the first to develop large-scale facilities using this technology. The Company has also filed a provisional patent application with the U.S. Patent Office for the production process."
A couple observations:
1. This is not innovative. It has been talked about for years and in fact was announced by Verasun as part of SunSource, LLC last summer.
2. The absolute amount of corn oil that comes out of the ethanol process is very small. It is estimated that out of a 100M gallon ethanol refinery, you would get around 3M gallons of corn oil. Ethanol producers are going to have to aggregate alot of corn oil and ship it around alot to get to scale. This aggregation and shipping will add cost to the corn oil and reduce the attractiveness of the economics.
3. Corn oil is a very low quality feedstock for biodiesel. It has a high free fatty acid content which requires extra processing. The capital and variable cost to produce biodiesel will be much higher than the industry average. This may be offset by the low internal transfer price of the corn oil, but the economics are unclear at this time. Lurgi and Crown are the most expensive biodiesel facility manufacturers in the industry. It is interesting that VSE did not note the cost of the 30M gallon refinery. I would estimate over $45M.
4. The resulting fuel also will have different performance characteristics especially around cold flow characteristics and cetane value. It is unclear the marketability of the fuel.
5. Taking the oil out of the distillers grains takes value out. While VSE has probably done the math at a deeper level than we have, our calculations don't come out as a net gain. I will be interested to see the actual marketability of DDS sans oil.
6. While a 30M g corn oil biodiesel refinery would help ethanol producers in the midwest recover some cost, it is not a competitive facility in the overall biodiesel market. And it won't be on-line before the middle of 2008. Imperium Renewables will have a 100M facility on-line in Q2 2007 utilizing multiple feedstocks and being built for much lower capital cost.
VSE is doing the right thing to try to squeeze every last dollar of revenue out of their feedstock. In the end the capital investment may be worth it. But do not mistake that as an actual biodiesel strategy. Imperium Renewables will open a 100m gallon refinery in Q2 which will be able to process corn oil, soy, canola, palm, anything at far superior scale economics than these small scale add-on facilities.
Posted by Martin at 11:51 AM | Comments (0) | TrackBack
The dangers of promising technology before its time
2006-11-02 01:51:01 EST
***NUMEROUS LAWFIRMS FILE CLASS ACTION SUITS AGAINST XETHANOL
At least seven law firms are vying for the chance to be the lead counsel in a
class action suit against ethanol producer Xethanol.
On Oct. 23, what appears to be the first lawsuit was filed in the U.S.
District Court for the Southern District of New York by Kahn, Gauthier and
Swick LLC (KGS), on behalf of shareholders who purchased Xethanol common stock
from Jan. 31-Aug. 8. During that time, the lawsuit alleges that Xethanol
officials "repeatedly assured investors that it could sustain itself on revenue
from corn ethanol production while successfully commercializing biomass ethanol
production. In fact, however, as investors have now learned, Xethanol was
suffering from a host of undisclosed adverse factors that negatively impacted
its business and it appears that they do not have the ability to commercialize
biomass ethanol in the foreseeable near term," the law firm alleged. While
investors learned the truth, shares of the company dropped from a high of more
than $15/share in April to less than $4/share by the end of the class period.
The lawsuit stemmed from similar allegations written in August on
sharesleuth.com, a website financed by billionaire Mark Cuban.
Very quickly after the Kahn suit, a stampede of six very similar class
action lawsuits were filed in the same court. According to several sources
familiar with the cases, should the cases move forward, the court will likely
consolidate all the individual lawsuits into one suit. The law firm
representing the shareholders with the largest financial interest in the class
action will likely be the lead case that all others are consolidated into, the
sources explained.
In a letter to shareholders, Xethanol President and interim CEO Louis
Bernstein vigorously defended Xethanol against any court action. "Once again,
we believe that these lawsuits, as well as any future copycat lawsuits, are
meritless. Pure and simple, they explicitly bootstrap from the unfounded
allegations and insinuations propagated by last summer's negative online
publication about Xethanol," he said.
Bernstein also said the company will not allow the lawsuits "to distract us
from executing on our business strategy. We continue to produce ethanol at our
plant in Blairstown, Iowa, which currently contributes a positive cash flow to
the company. We continue to actively pursue our existing collaborative research
programs in cellulosic ethanol with leading academic and government scientists
in the field. We continue to move forward with our expansion plans in Iowa and
other potential locations...[and] we remain on track with our search for a
permanent CEO," he said.
Xethanol currently runs two tiny Iowa ethanol plants, a 6 million gal/yr
facility in Blairstown that still runs mostly corn rather than the biomass
processes touted by the company, and a Hopkinton facility that it bills as its
Biomass Technology Center. The company has also announced plans for a second
ethanol plant in Blairstown, and an ethanol facility in Augusta, Ga., in
addition to marketing agreements with Aventine and engineering services from
India-based Praj Technology.
-Rachel Gantz, rgantz@opisnet.com
Posted by Martin at 11:23 AM | Comments (0) | TrackBack
November 2, 2006
Kubota ok's biodiesel
From OPIS today.
***KUBOTA OKAYS BIODIESEL BLENDS IN EQUIPMENT
Japanese-owned Kubota Tractor Corp. of Torrance, Calif., gave its official okay for the use of lower-level biodiesel blends in the diesel-powered equipment it produces and sells in the United States and elsewhere.
Kubota, which distributes its branded tractors, construction, as well as agricultural and consumer lawn care equipment throughout the U.S., said today that it tested and approved biodiesel blends up to B5 -- 5% biodiesel with 95% petroleum diesel -- in specified equipment. The approval comes with the caveat that the fuel meets certain standards, including compliance with American Society of Testing Materials D6751 for the biodiesel component, and ASTM D975- spec for the diesel portion.
The company also suggested that to assure quality biodiesel, it should originate from a BQ-9000 approved producer. BQ-9000 is the voluntary quality standard set up by the biodiesel industry through the National Biodiesel Board.
"Kubota is committed to environmentally sound practices and the support of renewable, agriculturally based products used in fuels," company president Tetsuji Tomita explained.
-Spencer Kelly, skelly@opisnet.com
Posted by Martin at 10:18 AM | Comments (0) | TrackBack
November 1, 2006
Next NW Energy Angels meeting Nov. 9th
Come join me and see four northwest energy early stage companies
Thursday, November 9, 2006
*11:00 - 1:30 pm (please note time change)
Locations (please note new locations)
University of Washington - Husky Union Building (HUB) Room 108
UW Map - http://www.washington.edu/home/maps/northcentral.html?hub
Parking is complimentary
Please use Gate 3 Entrance and inform the gatehouse attendant that you have parking arrangement for "NORTHWEST ENERGY ANGELS MEETING." The HUB is about a 5-10-minute walk from the garage. Please aim to arrive at least 15 minutes before the meeting to avoid any parking delays.
905 NE 11th Ave, Portland, OR 97208 - Room # 770
For directions, please use www.mapquest.com
Parking - Please park at the Double Tree Hotel across from BPA
Security clearance will be required so please do not forget to RSVP by November 6 with your name and company. Please bring valid ID and arrive 20-25 minutes early.
Join us for the next meeting of the NW Energy AngelsTM presented by the Northwest Energy Technology Collaborative. Listen to exciting new companies, network, and learn more about investing in the energy sector.
The meeting will feature presentations from four companies involved in innovative electric transportation, a strategic agricultural energy solution, cellulose to ethanol technology and efficient engine technology.
Kirk Washington, Founding Partner of Yaletown Venture Partners, will provide an educational presentation highlighting his relationship with the angel community and the process of syndicating deals with angels. As well, Martin Tobias of Imperium Renewables, will give an update on biodiesel developments.
Accredited investors may attend one meeting as our guest at no charge. If you have not yet joined the group, please fill out and return the attached application by mail or email. Applications will also be available at the meeting.
Please RSVP to Thea Medrano at tmedrano@watechcenter.org. If you have any questi
Posted by Martin at 1:26 PM | Comments (0) | TrackBack
more from GM web site on EcoJet supercar
Posted by Martin at 1:23 PM | Comments (0) | TrackBack
Jay Leno's Ecojet car runs on our biodiesel
After a couple visits to Jay Leno's garage, monday he unveiled his jet powered biodiesel burning supercar: Inside Line: 2006 SEMA Show - GM Ecojet Concept. Imperium Renewables is providing the fuel. Jay got comfortable with our fuel by first burning it in his turbine motorcycle. This EcoJet car is significant in that both GM and Alcoa were involved as official sponsors. And Jay insisted it run on our biodiesel!
Posted by Martin at 12:57 PM | Comments (0) | TrackBack