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:
“After the final no there comes a yes
And on that yes the future world depends.”
—Wallace Stevens (1879–1955)
“... the loss of belief in future states is politically, though certainly not spiritually, the most significant distinction between our present period and the centuries before. And this loss is definite. For no matter how religious our world may turn again, or how much authentic faith still exists in it, or how deeply our moral values may be rooted in our religious systems, the fear of hell is no longer among the motives which would prevent or stimulate the actions of a majority.”
—Hannah Arendt (1906–1975)
“[With the Union saved] its form of government is saved to the world; its beloved history, and cherished memories, are vindicated; and its happy future fully assured, and rendered inconceivably grand.”
—Abraham Lincoln (1809–1865)