This oil company is turning animal fat into dieselPublished: Wednesday, August 15, 2018
Finnish company Neste Oil is turning animal fat and plant oil into renewable diesel — and outperforming some traditional oil majors. The product has almost the same chemical makeup as diesel made from fossil fuels but emits a fraction of the carbon emissions. The company has seen its share price increase by more than 600 percent since it started turning a profit from renewable diesel in 2013. "I can tell you, nobody believed us," said CEO Matti Lievonen. "We innovated something completely different — never in the marketplace. That was the breakthrough." Research shows that renewable fuels such as Neste's diesel can cut total greenhouse gas emissions by 60 percent or more, according to Robert McCormick, a senior research fellow at the National Renewable Energy Laboratory. According to the company, its products have reduced emissions by 8.3 million tons. That's the same as taking 3 million cars off the road. Neste's success isn't necessarily a template for other companies, though. "In today's market, I don't think these biofuels would be close to price competitive without the various incentives that are in place," said McCormick. "If something were to drive the price of oil up to $150 or $200, well, that could make a difference" (Sarah Kent, *Wall Street Journal* <https://www.wsj.com/articles/the-key-to-big-profits-in-clean-energy-animal-fats-1534248000?mod=hp_lead_pos11>, Aug. 14). *— KB* _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
