Global Warming has become the ultimate buzzword within the past few years as nations scramble to go green not only to assuage their demanding populace but to conform to numerous emerging global warming treaties. Biodiesel has become one of the go to fuel types due to relative cheap startup costs. Latin America has been leading the world in the switch to greener energy sources with Brazil being the only country that is entirely self-sufficient when it comes to energy. Pure Biofuels is located in neighboring Peru which is also making strides to reduce its dependency on fossil fuels. Pure has already presold its production levels to numerous fuel distributors in the country.
Demand for Biofuels is expected to grow exponentially as numerous analysts from Merril Lynch and Barclays expect oil to spike above $80 a barrel in the second half of 2007. This is mainly due to supply concerns as does not factor in political tensions in the Middle East which is inflamed could spike oil as high as $250 a barrel if a regional war broke out.
Pure Biofuels is positioned to benefit from the spike in oil prices due to the company’s expanding production environment that is expected to reach 52 million gallons of biodiesel per year.
About Pure Biofuels
Pure Biofuels is committed to being a leader in Latin America’s rapidly emerging biofuels industry. Pure Biofuels’ flagship project, the Callao Port biodiesel refinery near Lima, Peru, is scheduled to commence production during the fourth quarter of 2007. The Callao Port refinery will process biodiesel from crude palm oil feedstock. Pure Biofuels has secured memorandums of understanding with local fuel distributors for all of Callao Port’s annual biodiesel production.