by Charles Bensinger by Charles Bensinger Vice President Vice President EDDORADO BIOFUELS LLC EDDORADO BIOFUELS LLC WORKFORCE TRAINING FOR THE GREEN ECONOMY WORKFORCE TRAINING FOR THE GREEN ECONOMY Santa Fe Community College Santa Fe Community College June 25, 2008 June 25, 2008 A New Generation of Biofuels A New Generation of Biofuels for New Mexico for New Mexico
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By Charles Bensinger Vice President EDDORADO BIOFUELS LLC WORKFORCE TRAINING FOR THE GREEN ECONOMY Santa Fe Community College June 25, 2008 A New Generation.
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by Charles Bensingerby Charles BensingerVice PresidentVice President
EDDORADO BIOFUELS LLCEDDORADO BIOFUELS LLC
WORKFORCE TRAINING FOR THE GREEN ECONOMYWORKFORCE TRAINING FOR THE GREEN ECONOMY
Santa Fe Community CollegeSanta Fe Community CollegeJune 25, 2008June 25, 2008
A New Generation of Biofuels A New Generation of Biofuels for New Mexicofor New Mexico
Common Biofuels MythsCommon Biofuels Myths
Myth #1: We have to choose between biofuels and food. It’s Food vs. Fuel.
Fact: A recent USDA analysis concluded: given an anticipated 40% increase in
world food prices, increased demand for biofuels feedstocks is responsible for only 3% of that increase.
Myth #2: Corn diverted to make ethanol is depriving people of critical food products.
Fact: Most U.S. corn is grown for animal feed. Ethanol is produced from field corn, not sweet corn. Field corn is indigestible to humans in its raw form.
Fact: 87% of U.S. corn is fed to animals. 1.5% is used for cereals. Human uses account for about 10% of US corn use.
Fact: Alcohol is not protein.
When field corn is processed for ethanol, only the starch portion is used to make the alcohol. The fat, protein, vitamins, minerals and other vital nutrients are passed along to the animal feed co-product known as “Distillers Grains.”
The U.S. Food DollarThe U.S. Food Dollar
Food input is 19¢ labor is 38¢ Marketing is 43¢
Real Causes of Food CrisisReal Causes of Food Crisis
• Hedge fund commodities speculation on grains resulting from Australian drought
• Hedge fund speculation on crude oil, forcing crude oil prices to escalate
• Bad weather and weak dollar
• 200 million more meat eaters in Asia
• Increases in labor costs
• Increased biofuel feedstock production
If you have to single out the greatest contributor to higher prices, it is ENERGY. Fuel contributes cost to food at every step: growing , production, packaging and shipping -- Ed Maxiner, editor of the Kiplinger Agricultural Journal
Oil industry insiders recently noted that commodity speculation likely accounts for 25% to 50% of the price of fuel. That’s $1 to $2 per gallon.
Both food and fuel are critical components of survival. Both must be affordable and accessible to all. Really, we are now confronting a Food AND Fuel Crisis.
We need to regulate financial commodities speculation and immediately begin to develop local food and fuel production.
The Food AND Fuel Crisis
The Benefits of BiofuelsThe Benefits of Biofuels• U.S. ethanol production has
reduced foreign oil imports by 140,000 barrels/day, representing a savings to American motorists of $6.6 billion a year.
• Merrill Lynch, financial analysts, concluded that ethanol is helping to keep gasoline prices 15% to 27% lower than they otherwise would be.
Benefits of Biofuel Production in Benefits of Biofuel Production in New MexicoNew Mexico
• New job creation
• Pride in developing new advances in use of unconventional feedstocks
• Greater fuel self-sufficiency
• Lower fuel costs
• Bolstering of rural economies
• Conversion of “waste materials” to value- added products