democrats push for new energy bill in us

The democrats have managed to get their comprehensive new energy bill through congress, although it faces a big fight in the senate and Bush may veto aspects of it when it finally lands on his desk.

However the parts of the bill which relate to an increased mandate in biofuel usuage are not the contentious ones and it seems very hopeful that the biodiesel industry in the us will have excellent support.

Automobile manufacturers for the first time will get credits for specifically making biodiesel friendly vehicles and it seems likely that biodiesel will get its own separate mandate for increased usage.

http://www.guardian.co.uk/uslatest/story/0,,-7132873,00.html

In terms of when we might hear from arw about their funding arrangements I have been looking at their timeline and can't see it being finalised till early next year. The banks and investors they are negotiating with will need to see the figures in the feasibility study before coming to any arrangements I would have thought. Also if you look at the timeline in the us presentation at the agm you get some idea.

Max was very optimistic about producing biodiesel in our oz plants in January too and has been chasing up cheaper feedstock sources...hopefully he will be successful there and all will not be lost on the home front.

When I mentioned our present market cap of 12m or so, he said the land and plants alone would be worth more than that. For instance he bought the land in Adelaide for 700k, but now estimates its value at around 6 million....then there is the land in wa and both the multi-million dollar plants. You would have to say this company is undervalued.

I wonder if we will hear anything about the results of the feasibility study by Xmas.