Abundant Biofuels to produce 600 billion gallons of biodiesel by 2012

Abundant Biofuels says it will be producing 600 billion gallons of jatropha biodiesel by 2012 in places like the Philippines, Peru, the Dominican Republic and Colombia. Other companies have tried to produce jatropha oil in those countries and have pulled back. Those efforts failed because the oil was taken out of the countries for refining, said Chuck Fishel, Abundant’s chairman. “Our strategy is to sell in the country” where the oil is produced, he said. Not exporting the oil will make production cost-effective, Fishel said, and put more people to work in those countries. Abundant’s Philippine project is in the planting stages and is the furthest along its efforts. It also has a demonstration farm in Peru, and has plans to grow in Colombia, Costa Rica, Indonesia and the Dominican Republic. (July 16, 2009)