Two key words in a presentation at the Transition To A Bio Economy Conference were flexibility and diversification. These are important to managing risk, especially in R&D for renewable fuels.
Our presenter was Gordon Rausser, University of California, Berkeley, who was here with his assistant Maya Papineau. I interviewed them both together after the presentation. Gordon says that we should be looking at R&D risk as a portfolio of opportunities. He says we should be managing the overall risk by recognizing the inter-relationships among the technologies and their ultimate commercialization. He also says that stand alone analysis will miss much of the opportunities that will arise.
When it comes to flexibility he suggests giving yourself options so that you can take advantage of new opportunities as they arise. He says that current ethanol plants are vulnerable going forward since they don’t have the flexibility to move to different feedstocks.
Maya talked about probably breakthroughs in renewable energy technology. She says that it’s important for how you use public and private R&D resources to maximize the investment.
You can listen to my interview with Gordon and Maya here: [audio:http://www.zimmcomm.biz/farm-foundation/ff-bio-08-rausser.mp3]
You can also download the interview using this link (mp3).
The second session here at the Transition To A Bio Economy conference was on risk and uncertainty.
One of our speakers here at the Transition To A Bio Economy conference brought the discussion down to the farm level. John Miranowski, Iowa State University, spoke about the impact of biofuels on the rural economy and the farm structure.
Like the first speaker on our program today here at the Transition To A Bio Economy conference, our second speaker, David Zilberman, University of California, Berkeley, says we need to increase agricultural productivity.
The first speaker here at the Transition To A Bio Economy conference is Michael Wetzstein, University of Georgia. His talk deals with two issues. One is on price volatility and the other is on food and fuel.
The Farm Foundation conference, “Transition To A Bio Economy, Risk, Infrastructure and Industry Evolution” is underway here in Berkeley, CA. Getting us started was Farm Foundation Vice President, Steve Halbrook.
Just two years in and the 
The Earthrace, the 100 percent biodiesel-powered boat trying to set a record for circumnavigation of the globe, is approaching its last port before its final run back to Spain… and a world record.
Update from Egypt, 19.29 GMT. Due to essential maintenance work following a challenging trip through monsoon weather, Earthrace was not able to start the journey through the Suez Canal until this afternoon. The crew is very grateful to Admiral Fadel, Chairman of the Suez Canal Authority, for granting special dispensation to the boat to travel through the Canal. As vessels are unable to travel along the canal at night, the boat is now docked half way to Port Said, in Ismailia from where she will set off again at first light tomorrow. Thanks also to Felix Maritime Agents for all their help in making arrangements for a great transit.
A small train company in the Pacific Northwest is using biodiesel on some of its routes.