Future
Gate Ethanol and Hamilton County, Florida officials reached an agreement in early 2004 for Gate to build a $160 million ethanol plant on 90 acres (360,000 m2) north of White Springs, Florida. The plant would have the capacity to produce 50 million gallons of ethanol annually and employ almost 50. In late 2006, the company announced that due to soaring costs of construction and the fluctuation in the price of ethanol, their original plan was no longer viable and would be scrapped.
In October, 2007 Gate Biofuels announced plans to construct a terminal at the port in Jacksonville to receive and store Ethanol, which would be blended with gasoline before distribution to gas stations. Nationwide, ethanol production increased 33% from the prior year creating an oversupply because few distributors were prepared to perform the blending process. Another product under consideration is biodiesel, which is made from natural oils. The $90 million, 55 million gallon facility will have both rail and ship capabilities and is expected to be completed in 2010.
Read more about this topic: Gate Petroleum
Famous quotes containing the word future:
“The normal present connects the past and the future through limitation. Contiguity results, crystallization by means of solidification. There also exists, however, a spiritual present that identifies past and future through dissolution, and this mixture is the element, the atmosphere of the poet.”
—Novalis [Friedrich Von Hardenberg] (1772–1801)
“In any future great national trial, compared with the men of this, we shall have as weak, and as strong; as silly and as wise; as bad and good.”
—Abraham Lincoln (1809–1865)
“The more we shelter children from every disappointment, the more devastating future disappointments will be.”
—Fred G. Gosman (20th century)