Biofuel firm misses payment on debt

  • Article by: DAVID SHAFFER , Star Tribune
  • Updated: October 4, 2012 - 8:55 PM

Denver's Biofuel Energy, which owns an idled Fairmont, Minn., ethanol plant, is among several ethanol producers in the state to recently report losses.

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reetnhOct. 4, 12 3:49 PM

Ouch. As if my hometown wasn't becoming a ghost town fast enough. But I could see this coming years ago, Ethanol is NOT a sustainable option.

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acctsah2Oct. 5, 12 9:02 AM

With as many actual, viable alternatives to biofuel why are we still pushing corn? Is it because the farm lobby has that much influence? It has been proven, tested, published that ethanol is a terrible option for so many reasons and yet there are still mandates, it is still being pushed down everyone's throat.

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lizardbrainOct. 5, 1210:12 AM

I feel horrible for everybody that is losing their jobs, but when your industry depends solely on government subsidies and mandates that is bound to happen every time. Ethanol was a well intended idea years ago, but now its time to cut losses (both money and net-energy) and let this industry run it's course. Food in gas tanks for a net energy loss makes zero sense unless you are one of the companies or farmers making money off of it.

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bigj111Oct. 5, 1211:46 AM

reetnh: "Ethanol is NOT a sustainable option."------actually ethanol IS a very sustainable option. Just not in Fairmouint, MN and not utilizing corn. Within the next 10 years, the US ethanol industry will be thriving.......along the gulf coast, fueled by sugarcane production, and located in close proximity to traditional petro refining nerve center of the country. In other words: right where it should have started out to begin with. I agree that the upper midwest corn experiment was an expensive boondoggle.

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cg49423Oct. 6, 12 1:12 PM

Fairmont is an awesome little town in southern MN. I worked there quite a bit when I worked UP.

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