Biofuels is the biz to be in for Continental Energy Corporation. The energy company is expanding to incorporate biofuels in Delaware.
Continental Energy Corporation has announced that it has cofounded a new, partially-owned, special purpose, joint venture subsidiary incorporated in Delaware named Continental Biofuels Corporation. The Company subscribed and purchased 1,000 shares of the 2,500 issued and fully paid share capital of CBC representing a 40% stake, and largest single shareholding, in CBC. The remaining 60% stake in CBC is held by a cofounder group of five private investors led by Casimir Capital Group LLC of New York which includes two Directors of the Company, each of whom purchased a 10% stake.
The Company and its management have a long track record in oil and gas exploration in remote areas of Indonesia. This experience provides contacts, knowledge of local business practices, and long standing personal relationships with Indonesian and Malaysian palm oil plantation owners and local government plantation permit providers. As a result, the Company is in a unique position to act in the role of facilitator and strengthen CBC’s SE Asian operational capability and assist CBC to capitalize on palm oil plantation acquisition or development opportunities.
Continental Energy Corporation describes itself as an international oil and gas exploration company, focused on making major oil or gas discoveries in Indonesia.
In urging Senators to block a vote on the bill, Sen. Pete Domenici of New Mexico, the ranking Republican on the Senate Energy and Natural Resources Committee, argued: “This is not a good bill, but it can be turned into a great bill.”
Hurt sees continual price rises in the corn, soybean and wheat markets through 2010 with a gradual settling leading up to that time and then a leveling off period.
The two biggest biodiesel producers in Wisconsin have combined forces to put the state’s second largest biodiesel plant online by the end of the year.
Commending those supporting this shift in energy policy direction in this country, Renewable Fuels Association President Bob Dinneen issued the following statement:
The upcoming National Biodiesel Board’s 2008 National Biodiesel Conference & Expo, February 3-6th at the Gaylord Palms Resort & Convention Center in Orlando, Florida, will be focusing on developing the feedstocks to make the green fuel.
The National Biodiesel Board has joined some key members of the House Agriculture Committee to rally for the expansion of the Renewable Fuels Standard (RFS).
The Energy Bill scheduled for consideration in the U.S. House contains a provision to use clean-burning, domestically produced renewable fuels to promote energy independence by expanding the existing RFS to 36 billion gallons by 2022. The proposal would also provide for a renewable requirement in diesel fuel. It would be met by biodiesel and other biomass-based diesel fuels. The legislation specifically requires that 500 million gallons of biodiesel and biomass-based diesel fuel be blended into the diesel pool in 2009, gradually ramping up to one billion gallons by 2012.
A new study released today by the 
Members of Congress and representatives from a variety of organizations held a media event Wednesday morning in support of an increased Renewable Fuels Standard (RFS) in the Energy Bill.
Congressman Eliot Engel (D-NY) described his conversion to being an ethanol supporter. “As a member of the Energy and Commerce Committee for many years I voted against the ethanol mandate,” Engel said. “I changed my position 180 degrees, and I changed my position because it’s good for America.”
All of the speakers noted the importance of the RFS to cellulosic ethanol development, which is still in its infancy. In the meantime, Congresswoman Stephanie Herseth Sandlin (D-SD) said, “Conventional corn ethanol is the bridge we need to move forward.”