Oklahoma Biodiesel Plant Files Bankruptcy

"Rising Soybean Prices; Lack of Financing" cited in downfall
from NewsOK.com:
Friday, November 9, 2007
By Paul Monies
Business Writer

... Green Country Biodiesel's bankruptcy comes amid a period of uncertainty for the emerging alternative fuels market.

Earth Biofuels in Durant is the only other biodiesel plant in the state, although plants are planned for Tulsa and Guymon. Meanwhile, six ethanol plants have been proposed for Oklahoma. So far, just two are operational.

Bobby Wegener, the state's deputy secretary of energy, said the market demand for alternative fuels remains high. But the biofuels industry is still in its infancy and is less adept at overcoming challenges like tight margins or rising feedstock prices.

"If there are plants out there having challenges, you have to look to what the feedstock is and how close it is to the plant,” Wegener said.

Read More>>