BP cancels plans for Florida cellulosic ethanol plant

Biofuel Bust?: BP processes waste agricultural residues at its Jennings, LA, biofuels facility. BP announced that it will not move forward with plans to build a commercial-scale cellulosic ethanol plant at Highlands County, FL. The cancellation fuels doubts about the profitability of using agricultural wastes to produce biofuels already circulating, since Shell scrapped a similar project in May. “Given the large and growing portfolio of investment opportunities available to BP globally, we believe it is in the best interest of our shareholders to redeploy...

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