Big Oil has good chance at making ethanol profitable - analyst

ICIS.com
05 November 2009 16:41 [Source: ICIS news]

PARIS (ICIS news)--Oil companies could have an easier time turning a profit in biofuels by acquiring failed ethanol plants and running the operations at significantly lower costs, an analyst said on Thursday.

Oil companies can succeed where others failed because they can get the plants at a much lower cost, said Standard & Poor's associate Mark Habib during a presentation at the World Ethanol 2009 conference in Paris, France.

Big Oil interest in biofuels made headlines earlier this year after Sunoco and Valero snapped up ethanol plants that had gone bankrupt.

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