What might be a measure of how successful biodiesel will be? Well, some might argue the number of investors willing to plunk down money in these ventures. Earlier this week, I told you about how Missouri saw a sharp increase in biofuels investors. Now, New York investors are buying a biodiesel plant still just in the planning stages near Minot, North Dakota. In this story from the Associated Press in the Bismarck Tribune, the Kinetic Group’s Jeremy Dockter (a native North Dakotan – and now living in New York), explains why they made the move:
“The key is finding markets, not only in North Dakota but also other countries and other states,” Dockter said.
When finished, the plant is expected to produce 60 million gallons of canola oil… half going to biodiesel production and the other half going to edible oil.