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March 30, 2007
The Way I see it now in Starbucks Distribution
My Starbucks cup has now been spotted in both Los Angeles and Washington DC.
Check your Starbucks cup next time.
Posted by Martin at 8:54 AM | Comments (0) | TrackBack
March 28, 2007
Voice recorder for Blackberry 8800?
Just tried the : VR : Voice Recorder for BlackBerry - Free Software Downloads and Software Reviews - Download.com from Shape. Says it works on the 8800, but it does not. Tries to access my phone records (which I don't like) and then has an "uncaught exception". I took it off.
anyone know a real voice recorder for the blackberry? I don't understand why they didn't just make the media player a recorder too?
Posted by Martin at 8:55 PM | Comments (0) | TrackBack
Matt Simmons address International Petroleum Week
"Every petroleum scientist that has relentlessly worked on the
resource/reserve issue pegs peak oil occurring sometime in the next one to ten years." IP week talk.pdf (application/pdf Object)
Peak oil doesn't mean we are running out of oil, it just means that oil production is in decline. We won't run out of oil for quite a long time, but production will plateau or decline while demand continues to rise. Energy reality 101 is that demand can be a high as anyone wants to forecast, but energy use can only be as high as energy supply. IAEA and the USDOE both project roughly a 40-45% growth in oil demand over the next 23 years (with natural gas growing at 67%). The only real quesion is, will production be able to grow the same amount? If production lags growth even by 1%, volatility and price goes through the roof.
Posted by Martin at 1:48 PM | Comments (0) | TrackBack
March 27, 2007
Come to my house April 26th
I will be hosting a reception for all Northwest Energy Angel members and presenting companies.
The best early stage energy companies in the northwest will be there along with a very good group of local investors.
Join us for the next NW Energy Angels Meeting - April 26th 3:00 - 6:00 p.m.
(guest are welcome to arrive at 2:30)
Location: Residence of Martin Tobias
Address: 417 West Propect Street Seattle, WA 98119 (Queen Anne area)
Posted by Martin at 12:17 PM | Comments (0) | TrackBack
March 22, 2007
Where surfing is illegal
My friend Jeff Canin is down in Recife, Brazil where they have outlawed surfing due to the large number of great white, hammerhead and bull shark attacks. Ouch.
Posted by Martin at 7:22 PM | Comments (0) | TrackBack
Trucker study shows long-term benefits of B20
Very cool: long term study shows reduced maintenance with B20
Posted by Martin at 12:26 PM | Comments (0) | TrackBack
March 21, 2007
One forecaster sees busy hurricane season
After a lack-luster 06, one hurricane prognostication group forecasts a busy summer. I wouldn't want to be on the Gulf coast. This cannot be good for oil futures.
Forecasters see above average hurricane activity. London-based forecasters at Tropical Storm Risk are predicting the Atlantic Ocean hurricane activity this year may be as much as 75% above the historical average as warm water provides fuel for storms. The forecasters estimated 17 tropical storms will form, with nine reaching hurricane force and four of those becoming major hurricanes with winds topping 111 mph. According to the forecast, as many as five storms, including two hurricanes, may make landfall in the U.S. Tropical Storm Risk, which accurately forecast the 2003 to 2005 seasons, predicted 16 storms for the 2006 season, including eight hurricanes and four major hurricanes. Other forecasters, including Colorado State University researchers also expected 2006 to be more active than it was. The team will release its 2007 forecast in April.
Posted by Martin at 9:55 PM | Comments (0) | TrackBack
Cummins ups their biodiesel support to B20
thanks aron
Cummins Inc. announced today that they "approve" of the use of B20 biodiesel blends in their engines, for use in 2002 and later engines.
Cummins cited three main reasons for moving from approving B5 (which was their previous position) to B20: The American Society of Testing Materials specification ASTM D6751 is now inclusive of an important B100 stability specification; BQ-9000 certified biodiesel is increasingly available for purchase; Cummins completed its own proprietary testing which allowed them to be completely comfortable recommending B20 usage.
Cummins states that it is committed to participating in the growth of the industry producing high-quality biodiesel and its usage in their engines.
Posted by Martin at 9:50 PM | Comments (0) | TrackBack
Iraqi insurgents use children laced car bombs and crude chemical weapons
This news from AGE was particularlly chilling today. Two Iraqi insurgents passed through a military checkpoint because they had two children in their car. Soon after, they detonated the car with the children INSIDE. And they are starting to blow up tankers of Clorine to try to create clorine gas (a chemical weapon). While crude, the move shows their desire for such weapons and willingness to use them. This is absolutely repulsive to me. in a day when the major news reports were only talking about the "growing scandal" over firing of US Attorneys, this chilling and important news was left untouched by major media. I was surprised O'Reilly didn't mention it on Fox. I have not heard a plan from the Democrats or anyone critical of our current efforts in Iraq about how you win against such a ruthless enemy. All I have heard is "give up". How can you say "give up" and deny the region will turn into a terrorist university stronghold out of which many more 911's will come? When people are willing to calmly drive children to their death's through a military checkpoint, how far else would they go?
OPEC and Middle East news...In Baghdad, two insurgents passed through a military checkpoint in their car. U.S. forces let their car pass after seeing two children in the backseat. At a Pentagon news briefing, Maj. Gen. Barbaro said, Children...lower suspicion. Agence France-Presse quoting a U.S. military official said the two men in the car then parked it across from a school, ran away from the vehicle, leaving the children behind, and detonated the car. The two children and three other civilians died. Seven were wounded. Despite the chilling tale, the story suggests the security crackdown is to some degree working. The insurgents are being forced to become more creative in their tactics. Nevertheless, the story suggests they are insistent on continuing to wage assaults.
Meanwhile, Britains top general in Iraq said the US-Iraq offensive has put the insurgents on the defensive in Anbar. This has been one of the most violent regions around Baghdad. We note there are reports of a surge in violence in neighboring Diyala, suggesting the insurgents have simply moved camp.
Last weekend insurgents detonated three vehicle-borne IEDs in Anbar, west of Baghdad. The U.S. has blamed al Qaeda for the explosions that included chlorine blasts. For the insurgents, making chlorine bombs is not rocket science. Basically, they are using trucks loaded with chlorine tanks and detonating them. The use of chlorine bombs in Iraq is not new. Earlier this year there was a spate of similar attacks. Though the current bombs have proved generally ineffective (because the insurgents havent conquered the problem of disbursing the gas in concentrations high enough to cause mass casualties) they are useful. The crude chemical weapons incite fear in the Iraqis while offering the insurgents valuable experience with such devices. Likely, as the insurgents improve their technical capabilities and subsequently the lethality of them, they will begin to use them outside Iraq.
Reuters reports this morning that Alireza Jafarzadeh, an Iranian exile who accurately gave details about Irans nuclear program in 2002, claimed Iran Revolutionary Guards have been operating Iraqi Shiite militia training camps. He named names and provided details of the training activities, suggesting the Iranian government endorses and has full knowledge of the camps.
Posted by Martin at 9:35 PM | Comments (0) | TrackBack
The Neander lives!!!!
After two years of development, the crazy Germans have a running big bore diesel motorcycle! check out the pics!
Here is their update from the news letter.
Hello Friends of NEANDER,
The motorcycle season has opened, and with the first sunbeams, we grabbed at the chance to make the final engine tests on two wheels.
Our team of test drivers allowed our prototype to taste the spring asphalt, by running it from Munich through France into Southern Spain and back, and thereby testing its heart and kidneys.
The gang even opened up the throttle in the Land of Sangria and allowed the prototype to thrash the racetrack in Cartagena, making a proper impression.
Were attaching what could be the last pictures of the prototype and sending them to you, because in the meantime, we have almost completed the chassis construction for the "real" NEANDER. With its full-grown wheel length of 1930 mm and the daunting twin-forks, shes really looking sensational! Finally, this summer: The World Premiere. We will present the NEANDER live!!!
At this point, we would like to give our great partners, who have energetically supported us from the development phase right up to equipping the work shop, a huge "THANK YOU"! You will find an overview at our web site under the heading "Partners".
Aside from this, we have added several languages to our Internet pages.
Anyone, who always wanted to know what "First Turbo-Diesel Motorcycle in the World" means in Swedish, Italian, Spanish or French, can expand their knowledge here:
www.neander-motors.com
... And, we will continue to add new languages to our Internet site.
We wish you a successful beginning to the season, and will be in touch shortly with the latest from our NEANDER workshop.
Your Team NEANDER
Posted by Martin at 9:07 PM | Comments (0) | TrackBack
Seattle Biodiesel is Forbes Small Business
A former airline pilot�produces renewable�biodiesel fuel - March 1, 2007
Posted by Martin at 8:15 PM | Comments (0) | TrackBack
Biodiesel on NPR
Biodiesel story on NPR this week. NPR : Seattle Refinery Rides Biodiesel Boom Into Big Time
Posted by Martin at 8:08 PM | Comments (0) | TrackBack
March 19, 2007
Riding to rid the environment of carcinogens
I like to ride bikes of all types. With motors and without. This summer I need a goal to keep me on track riding, so I have signed up for the Lance Armstrong Live Strong ride in Portland Oregon.
Two ways you can get involved:
1. Join my team here: 2007 LIVESTRONG Challenge - Portland - Seattle Biodiesel Team
2. Support my ride by making a donation to me here:
Posted by Martin at 10:26 AM | Comments (0) | TrackBack
Pemex reserves drop, major fields in steep decline
US oil produciton peaked in the 1970s. Mexico's peaked in 2004. It peaked later because they started investing later, but the drop will be swift. Less than 10 years of petroleum left. Wow, that was fast. See report below: Green Car Congress: Pemex Oil and Gas Reserves Drop by Half Since 2002; Total Oil Production Down 2.3% in 2006
Pemex oil production peaked in 2004, and its largest field, Cantarell, is in accelerating decline. (Earlier post.)
Posted by Martin at 8:51 AM | Comments (0) | TrackBack
March 16, 2007
SPEED world races B50 race car in SCCA
Lots of people are doing more to show consumers that diesel and biodiesel is not your father's fuel. One of the latest is a B50 racecar in the SCCA: Green Car Congress: SPEED World Challenge Announces B50 Road Racer. Very cool.
Posted by Martin at 11:05 AM | Comments (0) | TrackBack
China Agri-Industrials, the ADM of China raises $410M in oversubcribed offering
Wow, 100X oversubscribed institutional book and 607X oversubscribed retail book. All I can say is wow.
China Agri-Industries prices IPO at the top - General News - FinanceAsia.com - The network for financial decision makers
Posted by Martin at 10:07 AM | Comments (1) | TrackBack
My latest investment
I have been spending quite a bit of time in Westport, WA on a little piece of wooded property I bought recently to develop a surf camp on. One of the issues I have is how to heat the place and what to do with all the trees I am going to have to cut down (as few as possible though) to build a surf shack and a road. An obvious idea was to cut the wood into firewood and use a wood stove. But traditional home wood stoves are VERY dirty, ineffecient and only provide direct heat. I started wondering if there is a better way. And there is!
Greenwood Technologies is here in Seattle and has invented a Hydronic Wood Furnace that is ultra efficient and very low in emissions. The company came through the NorthWest Energy Angel network I started to help fund early stage energy companies in the northwest. The product is something I would buy, solves a need, and the company happened to be raising money. The company is just ramping sales and building a distribution network. My order is already in for one in the fall when my house is done. If you have an off-the-grid or remote cabin where you have alot of wood and need a clean heating alternative, check out Greenwood.
Posted by Martin at 9:32 AM | Comments (0) | TrackBack
Global warming cutting crop yields
ouch. I was just reading the CSFB climate change report yesterday which is where I first read about the relationahip between warmer weather and reduced crop yields. Then this study comes out today. This will be an interesting area of study. Crops help global warming in some measure by eating carbon and if they are oilseed or corn, they may even be grown to off-set petroleum use. The relationship between more crops for fuel and less fuel use may be in interesting one to explore as well.
Green Car Congress: Study: Warming Causing Decline in Global Crop Production
The study is the first to estimate how much global food production has already been affected by climate change. Christopher Field and David Lobell compared yield figures from the Food and Agriculture Organization with average temperatures and precipitation in the major growing regions.
They found that, on average, global yields for several of the crops responded negatively to warmer temperatures, with yields dropping by about 3-5% for every 1� F increase. Average global temperatures increased by about 0.7� F during the study period, with even larger changes in several regions.
Posted by Martin at 9:06 AM | Comments (0) | TrackBack
March 15, 2007
Total-Neste renewable diesel deal DEAD like i SAID
Thanks Aron for the update on the dead and dying Neste-Total deal. Apparently it was not enough to admit the first time that the deal was too expensive, the companies had to say it again Tuesday in Paris. This is a continuation of the trend that marginal technologies will be hard to launch in this environment. Part of the "expense" calculation in addition to the high capital cost of the traditional petroleum hydrocracking pieces and parts is the fact that fuel made by this process may not have been eligible for all the tax credits given to true "biodiesel" (mono-alkyl esters). The fuel may have qualified under "renewable diesel", but there was probably alot of regulatory work in addition to the capital expense. While this particular project seems dead, the desire of the oil companies to participate with existing assets in renewable fuels is not. I expect more attempts in the future.
At the World Refining Association's European Fuels Conference in Paris on Tue, Jean-Jacques Mosconi of Neste-Total (senior vp of strategy & development & research) stated that their previously proposed biodiesel plant in France has been "deferred" rather than dropped altogether. However, he did admit that the plant was "unlikely to be resurrected.
Originally having been expected to bring product onstream in 2008, the proposed 200,000 barrel per day plant was to be located in Dunkirk, in northern France.
The effort is unlikely to be restarted unless "we discover that there is a big part of the project we have overlooked," said Mosconi.
Neste is also working on a joint venture with OMV AG of Austria, building a biofuels plant close to Vienna. According to an OMV employee who has worked on the Dunkirk deal, the numbers did not add up for the project based on a few factors (including their technology process), but "management seems to want it" because of the environmental cachet it adds to the company's brand and marketing.
As any capitalist would tell them, cachet flows forth from a business that can ultimately produce positive cash flow, so this deal would seem to be dead, if not yet buried.
Posted by Martin at 9:35 AM | Comments (0) | TrackBack
March 13, 2007
Watch your cell phone!
The Europeans have pretty good commercials sometimes. Check GoodHusband~TM.WMV. Better than UTube...
Posted by Martin at 4:27 PM | Comments (0) | TrackBack
I said it before, now AGE says it again for me
The premium you pay for a hybrid over a diesel does not pay for itself. You take 10 years to pay off the hybrid premium and by then you will have needed new batteries which will push your pay-back out another 10 years. Just buy a diesel and get payback in a couple of years with no battery bullet out there...
Quick news....
In October 2006 hybrid, gas-electric, vehicle sales accounted for 2.1% of total domestic vehicle sales. According to Edmunds.com the gas-electrics now make up about 1.8% of total sales. Heres the problem, according to BusineessWeek, if gasoline costs $2.50/gallon it would take the Honda Accord 10 years to recoup the premium consumers must front at purchase. According to Global Insight the automakers are set to release another 40 hybrids over the next 20 months. There are about 12 currently.
Interestingly, one way the automakers are hedging their gas-electric hybrid bets is by forging ahead with plans for more diesel models.
The premium of a hybrid over its standard model is partially found in the cost of batteries. We note that all electric-only car models have failed in the U.S. primarily because their batteries were inadequate. The NYT says A123Systems new lithium ion car battery delivers faster acceleration than any other battery in the same size. Additionally, the safety and battery life have been improved by A123 using iron phosphate in place of cobalt oxide.
Posted by Martin at 3:54 PM | Comments (0) | TrackBack
The big crew at Gray's Harbor
The crew down at Imperium Renewable's Gray's Harbor facility has grown significantly to well over 120 people a day working away. Today they stopped for a break and took a picture in front of the new processing building. Wow, that is alot of people!
Posted by Martin at 3:47 PM | Comments (0) | TrackBack
Quick energy update
Thanks Aron,
Supply and inventory down, demand up, china growing at 6.3%. off to races.
Oil rises after IEA reportCrude oil rose after the International Energy Agency reported that stockpiles in industrialized countries are heading for their biggest first-quarter decline in 10 years. IEA figures show oil inventories in Organization for Economic Cooperation and Development nations fell by more than 1.26 million barrels a day during the first two months of the year because of cold weather and falling OPEC output. OPEC pledged to cut 1.7 million barrels a day of production at meetings during the last quarter of 2006. Crude oil for April delivery rose 53 cents to $59.44 a barrel at 10:08 a.m. on the New York Mercantile Exchange.
International Energy Agency (IEA) Monthly Oil Market Report. Reiterate Our Positive Outlook For Oil Market Fundamentals. Global oil demand is essentially unchanged and expected to grow 1.8% in 2007, up from growth of 1.0% in 2006, driven by strong transportation-related demand. China's demand estimate is unchanged at 6.1%. Supply fell by 65 Kb/d in February to 85.5 Mb/d amid OPEC supply cuts. OPEC-10 supply declined 365 Mb/d from January and around 1.0 MMb/d since September, resulting in compliance of ~60% to previously announced cuts; effective spare capacity remains limited at 2.8 MMb/d, or 3% of demand. Non-OPEC supply additions for 2007 remain at 1.1 MMb/d, and the adjusted call-on-OPEC is 31.6 MMb/d, up from 29.5 MMb/d in 2006. OECD inventories fell 8.6 mb in January, leaving forward demand cover flat at 54 days. In addition, the IEA warned of the potential for a sharp draw in inventories near-term, given strong demand and OPEC curtailments, and that longer-term supply risks remain, due in-part to underinvestment caused by intensifying resource nationalism.
Posted by Martin at 2:07 PM | Comments (0) | TrackBack
March 12, 2007
EIA shows demand continues apace
thanks Aron,
The Qtr growth is 3% for diesel, but Y/Y is over 10%. Diesel continues to outpace unleaded growth while supply stays constrained. Good for biodiesel.
> The outlook for Q2 gasoline demand was trimmed (from the month ago estimate) by 10,000 barrels per day to 9.41 million barrels per day, which would be a gain of 1.2% from a year ago.
> For the full year, EIA expects growth in gasoline demand to be 1.2% to 9.35 million barrels per day, which would be the 16th annual gain in a row and an increase over last year's 0.9% rise.
> Q2 demand growth for distillate fuel has been lifted to 3% which represents 4.17 million barrels per day. A month earlier that forecast reflected a 2.7% rise.
> For the full year, distillate demand has been boosted to 4.27 million barrels per day, which is a rise of 2.2% over a year ago, and would be the fifth consecutive annual high. Last month, EIA had projected 2007 growth to be at 1.4%.
Also, EIA is projecting that OECD oil inventories could drop by 900,000 barrels a day in Q1, which would be three times the average decline over the past five years. OECD stocks may be unchanged in Q2, compared with an average rise of 800,000 barrels per day over the past five years. By year-end 2007, EIA projects that the level of OECD stocks relative to demand "is expected to decrease to the low end of the normal range."
EIA is forecasting global oil demand in 2007 will be double the growth rate of 2006, rising by 1.6 million barrels per day. China is expected to account for one-third of that rise.
The peak driving season seems to be in store for higher handles than originally projected, and EIA says that "...continued demand growth pushes inventories (measured by days of supply) steadily lower, setting the stage for an increase in gasoline margins and retail prices." EIA raised its spring/summer driving season gasoline price projection by about 20 cents per gallon compared to their forecast a month ago, to about $2.60 per gallon. That would still be about 20 cents per gallon cheaper than the year ago levels, but price projections are trending higher and could have further to go.
Posted by Martin at 2:41 PM | Comments (0) | TrackBack
March 11, 2007
Look Ma, I'm on CNBC (again)
Posted by Martin at 4:17 PM | Comments (0) | TrackBack
March 7, 2007
Washington CEO magazine article on biofuels in northwest
Good article (well I am biased) Washington CEO: Pay Dirt
Posted by Martin at 10:45 AM | Comments (0) | TrackBack
March 5, 2007
Stepan Company cancels expansion plans for biodiesel
This week Stepan announced in : Biodiesel Magazine they will not expand biodiesel capacity due to narrowing margins in 2007. Last month, Future Fuels Corporation, an AIM listed SPAC said the same thing. The weak are being washed out. This is a good thing for the industry.
Posted by Martin at 11:33 PM | Comments (0) | TrackBack
Biodiesel lifecycle study updated...
Leave it to the Malta Independent Online to get this scoop...
The US Department of Energy (DOE) and US Department of Agriculture (USDA) have published the results of the Biodiesel Lifecycle Inventory Study. This compared findings for a comprehensive “cradle to grave” inventory of materials used, energy resources consumed and air, water and solid waste emissions generated by petroleum diesel fuels and biodiesel in order to compare the total “lifecycle” costs and benefits of each of the fuels. This 3.5-year study followed US Environmental Protection Agency (EPA) and private industry approved protocols for conducting such research.
The study was designed to provide policy-makers with comparative information that they could use to formulate appropriate policies regarding biodiesel.
The major findings of the study are:
The total energy efficiency ratio (ie total fuel energy/total energy used in production, manufacture, transportation and distribution), the report notes, shows: “Biodiesel and petroleum diesel have very similar energy efficiencies.”
The total fossil energy efficiency ratio (ie total fuel energy/total fossil energy used in production, manufacture, transportation and distribution) for diesel fuel and biodiesel shows that biodiesel is four times as efficient as diesel fuel in utilising fossil energy – 3.215 per cent for biodiesel vs 0.8337 for diesel. The study notes: “In terms of effective use of fossil energy resources, biodiesel yields around 3.2 units of fuel product for every unit of fossil energy consumed in the lifecycle. By contrast, petroleum diesel’s life cycle yields only 0.83 units of fuel product per unit of fossil energy consumed. Such measures confirm the “renewable” nature of biodiesel. ‘The report also notes: “On the basis of fossil energy inputs, biodiesel enhances the effective utilisation of this finite energy source.”
The overall lifecycle emissions of carbon dioxide (a major greenhouse gas) from biodiesel are 78 per cent lower than the overall carbon dioxide emissions from petroleum diesel. “The reduction is a direct result of carbon recycling in soybean plants,” notes the study.
The overall lifecycle emissions of carbon monoxide (a poisonous gas and a contributing factor in the localized formation of smog and ozone) from biodiesel are 35 per cent lower than overall carbon monoxide emissions from diesel. Biodiesel also reduces bus exhaust-pipe emissions of carbon monoxide by 46 per cent. The study observes: “Biodiesel could, therefore, be an effective tool for mitigating CO.”
The overall lifecycle emissions of particulate matter (recognised as a contributing factor in respiratory disease) from biodiesel are 32 per cent lower than overall particulate matter emissions from diesel. Bus exhaust-pipe emissions of PM10 are 68 per cent lower for biodiesel compared to petroleum diesel. The study notes: “PM10 emitted from mobile sources is a major EPA target because of its role in respiratory disease. Urban areas represent the greatest risk in terms of numbers of people exposed and level of PM10 present. Use of biodiesel in urban buses is potentially a viable option for controlling both life cycle emissions of total particulate matter and exhaust-pipe emission of PM10.”
The study also finds that biodiesel reduces the total amount of particulate matter soot in bus exhaust-pipe exhaust by 83.6 per cent. Soot is the heavy black smoke portion of the exhaust that is essentially 100 per cent carbon that forms as a result of pyroysis reactions during fuel combustion. The study notes there is research confirming the relationship between exposure to diesel soot and cancerous growths. Beyond the potential public health benefit from substantially reduced soot emissions, the study also notes: “There is an aesthetic benefit associated with significantly less visible smoke observed from the exhaust-pipe. For urban bus operators, this translates into improved public relations’.
The overall lifecycle emissions of sulphur oxides (major components of acid rain) from biodiesel are 8 per cent lower than overall sulphur oxides emissions from diesel. Biodiesel completely eliminates emissions of sulphur oxides from bus exhaust-pipe emissions. The study notes: “Biodiesel can eliminate sulphur oxides emissions because it is sulphur-free.”
The overall lifecycle emissions of methane (one of the most potent greenhouse gases) from biodiesel are almost 3 per cent lower than those from diesel. The study notes: “Though the reductions achieved with biodiesel are small, they could be significant when estimated on the basis of its CO2 equivalent-warming potential.”
The bus exhaust-pipe emissions of hydrocarbons (a contributing factor in the formation of smog and ozone) are 37 per cent lower for biodiesel than diesel. The fact that biodiesel’s hydrocarbon emissions at the exhaust-pipe are lower means that the biodiesel life cycle has beneficial effects on urban pollution.
The overall lifecycle production of wastewater from biodiesel is 79 per cent lower than overall production of wastewater from diesel. The study notes: “Petroleum diesel generates roughly five times as much wastewater flow as biodiesel.”
The overall lifecycle production of hazardous solid wastes from biodiesel is 96 per cent lower than overall production of hazardous solid wastes from diesel.
Posted by Martin at 10:10 PM | Comments (0) | TrackBack
New Holland supports 20% biodiesel
New Holland is raising the bar for blends on biodiesel with their new equipment. New Holland highlight biodiesel-tolerant CNH engine. The engine will actually run B100, but it is important that a major producer is supporting B20, 4x the B5 most car makers are stuck at.
Posted by Martin at 10:06 PM | Comments (0) | TrackBack
Audi Showcases Euro-5 V12
Very detailed analysis of the engine. I can't wait for them to ship! Green Car Congress: Audi Introduces V12 Diesel Passenger Car Concept
Posted by Martin at 1:49 PM | Comments (0) | TrackBack
Massive data dump on CBOT/Winnepeg and Oil futures
Thanks Aron:
My summary: Correction in the veg oil markets as speculative buying by funds gets washed out due to technical as well as fundamental factors. Crop yields are at all time highs and biodiesel capacity is not coming on line as quickly as the speculative premiums have implied. Basically I got it right. In crude, more rough waters ahead.
Chicago Board of Trade soybean futures Monday ended at their lowest levels in more than a month under pressure from weakness in outside markets and continued long speculative liquidation, analysts and traders said. But prices closed well off session lows amid an apparent exhaustion of the long liquidation and a bounce in the neighboring CBOT corn market, they noted. May soybeans closed down 3 cents at $7.50 1/2 per bushel, and November soybeans ended down 3 1/2 cents at $7.87 3/4. It was the lowest close for both contracts since Feb. 1. May soymeal finished down $0.40 at $220.50 per short ton, the contract's lowest close since Feb. 8. May soyoil closed 10 points lower at 29.98 cents per pound, the contract's lowest close since Jan. 31. Spillover pressure from outside markets and the neighboring CBOT corn market weighed on soybean futures for most of the day session, traders said. Corn futures rebounded higher in late trading, however, and helped soybeans trim losses, they said. Long speculative liquidation that began last week also continued to be a negative factor for soybeans, analysts added. Funds were active sellers again, dumping an estimated 5,000 contracts. Looking ahead, it appears as thought the long liquidation may be coming to an end, said Don Roose, president of U.S. Commodities. The market responded "fairly decently" to bearish news of a good harvesting weekend in South America and to the declines in outside markets, he said. "I think it's the tail end of the long liquidation," Roose said. "We had a lot of liquidation in the market. It seems like we've reached kind of equilibrium." Soy yields in Brazil's No. 2 soy producing state, Parana, surprised agronomists this weekend with many farms averaging between 54 and 70 60-kilogram bags per hectare, compared to just 40 bags per hectare in 2005-06, according to consulting firm Agroconsult. Of the 19 farms Dow Jones Newswires visited throughout west and north Parana between Friday and Sunday, 11 properties had yields of 54 bags or more, with six of those properties having fields yielding well more than 60 bags per hectare. In northern Brazil, where harvest conditions are being closely watched, Mato Grosso had a few light showers over the weekend. Otherwise, dry and hot weather prevailed with high temperatures in the mid-90s Fahrenheit, the DTN Meteorlogix weather firm reported. "This region has generally dry and warm weather this week, which is favorable for harvest," Meteorlogix said. Asian soybean rust will likely reduce yields in Brazil's No. 4 soy producing state in 2006-07, although strong yields from early cycle soy might compensate for the productivity losses going forward, Agroconsult agronomists said. In the U.S., the cold winter of 2006-07 appears to have set back the spread of Asian soybean rust as frost killed susceptible plant hosts in most of the Southeast. In other news, weekly U.S. soybean export inspections came in below analysts' estimates and inspections from a week earlier. The news was bearish for the market, an analyst said. The U.S. Department of Agriculture reported 24.829 million bushels were inspected for export for the week ended March 1, while analysts had predicted inspections of 33 million to 38 million. The previous week, 34.199 million bushels were inspected, the USDA said. For the current market year to date, 766.955 million bushels have been inspected for export, compared to 620.398 million at this time last year. "We're running into competition with South America now," Roose said, referring to soybean export business. There was some support for prices from position squaring, a CBOT floor trader said. In pit trades, USA Trading bought 1,500 May, and Term Commodities bought 600 May. On the sell side, Man Financial sold 1,000 Nov, while ADM sold 1,000 Nov and 500 May. ABN Amro spread 800 Nov/May, and Tenco spread 600 March/May. Term Commodities spread 500 Nov/May. SOY PRODUCTS CBOT soy product futures finished in negative territory on borrowed weakness, analysts said. Losses in soybeans weighed on soymeal and weakness in crude oil futures pressured soyoil, they said. "I think all the markets were down with crude earlier," Roose said. Funds sold an estimated 1,000 soymeal and 1,000 soyoil. In soymeal pit trades, JP Morgan bought 600 May and sold 400 May. Fimat sold 600 May. Shatkin Arbor spread 400 May/December soymeal. In soyoil trades, Prudential bought 900 May, and Citigroup bought 400 May. RJ O'Brien sold 500 May, and Rand Financial sold 400 May.
Winnipeg Commodity Exchange--Grain and oilseed futures at the Winnipeg Commodity Exchange finished Monday's session lower, with the exception being western barley. Canola values led the downward price slide with some of the declines fueled by the sell-off seen in CBOT soybean values as well as bearish chart signals, market watchers said. Weakness in the Canadian dollar helped to temper some of the downward price action. Canola finished lower with speculative-based chart selling accounting for a good portion of the downward price action seen in the commodity, traders said. The losses in canola were helped along by the sell-off seen in CBOT soybeans and soyoil. The downward price movement in canola was offset by steady domestic crusher demand and by scale down commercial buying, much of which was believed to be the pricing of old export business, brokers said. Slow farmer sales of canola to the country elevator system also offered some minor support. There were an estimated 7,981 canola contracts traded during Monday's session, up from 4,656 during the previous session. Of the contracts traded, 1,760 were spread related. Western barley values were mostly higher. Early losses in CBOT corn futures had sparked some light selling interest in barley, but when corn values began to recover to higher ground near the close, the losses in barley were also erased, brokers said. Activity was a light two sided commercial affair. An estimated 474 barley contracts changed hands during the session. On Friday, 51 contracts were traded. Feed wheat futures were steady to slightly lower in quiet trade. Early weakness in CBOT grain markets encouraged some of the initial selling interest with the absence of fresh demand also seen as an undermining price influence, traders said. Slow farmer movement in Western Canada was seen as an underpinning price influence. There were 25 feed wheat contract traded Monday. On Friday, 233 feed wheat contracts changed hands.
Oil--Crude oil futures fell to a nearly two-week closing low Monday on concerns global growth could slow, and as gasoline prices had their first sizable slip in weeks. Strength in gasoline prices had helped oil prices finish slightly higher last week, despite a big slide in global equities, which was led by China. With gasoline slipping 2.9%, the crude market focused on global stock market jitters and the effect they could have on crude demand. Analysts attributed the fall in gasoline to traders locking in gains after a big run up in prices in recent weeks. The front-month April light, sweet crude contract on the New York Mercantile Exchange ended down $1.56, or 2.5%, at $60.08 a barrel, after falling as low as $59.55, the lowest price for a front-month contract since Feb. 21. Brent crude on the ICE futures exchange fell $1.57 to $60.51 a barrel. Final settlement prices weren't yet available. "The equities are a concern in that if the trend continues, it could be the precursor to a slow down in the global economy," said Andy Lebow, senior vice president of energy at brokerage Man Financial in New York. Lebow said prices opened lower "in sympathy with equities" and were kept down by weakness in gasoline. Crude prices opened more than $1 a barrel lower in Nymex floor trading after slides in Asian share indices that began last week continued. China, the world's fastest-growing major economy, is estimated to have accounted for 40% of increased crude demand in 2006 and any signs of slowing economic growth there is seen as bad for crude oil demand. "Stocks seemed to be the initial factor in pushing prices down, but crude had a strong week last week and we were a bit overbought," which added to losses later in the session, said Tom Bentz, an analyst and broker BNP Paribas in New York. Crude prices Friday fell for the first time in eight sessions, though they were hard-fought gains, with prices ended up gaining only 30 cents for the week. U.S. shares are coming off their worst week in four years, triggered by a 9% daily fall in the Shanghai Composite Exchange last Tuesday. Statements from OPEC-member ministers that further cuts to oil production at the group's March 15 meeting in Vienna are unlikely also failed to help crude prices. Qatari Oil Minister Abdullah bin Hamad al-Attiyah said that if oil prices stay steady, there won't be any cuts in production at the coming Organization of Petroleum Exporting Countries meeting. Nigeria's oil minister Edmund Daukoru said Sunday that OPEC countries had achieved more than 75% compliance with previous cuts of 1.7 million barrels a day and that he doesn't "see the elements for another cut." Front-month April heating oil fell 4.37 cents, or 2.5%, to $1.7245 a gallon. April reformulated gasoline blendstock for oxygenate blending, or RBOB, fell 5.53 cents, or 2.7%, to $1.8465 a gallon. It was gasoline's second fall since Feb. 15. Gasoline futures outpaced gains in other oil products in February because of refinery glitches and forecasts for strong seasonal demand. The boost has led U.S. retail gasoline prices nationwide to average $2.481 a gallon Monday, above the Energy Information Administration's average projection of $2.415 a gallon for the peak demand second and third quarters. "This has naturally raised concerns that high prices at the pump could dampen demand for gasoline," Addison Armstrong, an analyst at TFS Energy in Stamford, Conn., said in a note to clients. "At the very least, a period of consolidation is now likely for gasoline futures."
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