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Here’s a story about a billionaire investor and a bankrupt biofuel company with nothing better to do than bilk Mississippi taxpayers. From the Associated Press (via Fuel Fix): It’s the latest turn in what’s becoming a nasty legal fight between Mississippi and KiOR, which state leaders once hailed as an economic boon for the state. […]
On these pages, we have been chronicling the sad saga of alternative-fuel company KiOR, which is facing class action lawsuits and an SEC investigation because it allegedly misled investors about the plausibility of its biofuel production targets. In the present post we’ll summarize the latest developments, which show that KiOR is teetering on the edge […]
The Environmental Protection Agency (EPA) has announced it will “reconsider” last year’s unrealistic cellulosic biofuel mandate in light of the industry’s inability to meet production targets. In a letter to the American Fuel & Petrochemical Manufacturers (AFPM), EPA Administrator Gina McCarthy admitted that expected production at a crucial cellulosic facility did not match reality: We […]
On these pages we have already described the absurdity of the EPA’s cellulosic ethanol mandate, which is literally impossible for refiners to satisfy. EPA’s 2013 mandate was based on their projections of the cellulosic ethanol output coming from two particular plants, one of them being a KiOR plant based in Columbus, Mississippi. Yet unfortunately for refiners—who […]
One of the most absurd aspects of the federal government’s energy policy is the Renewable Fuel Standard’s mandate for cellulosic ethanol volume. As we have explained on these pages, ethanol mandates drive up the price of food for no reason. We also wrote, “EPA is incredibly forcing refiners to pay a fine for not hitting […]