BP Backs Out of Jatropha Joint Venture with D1 Oils
It's not that jatropha doesn't produce enough oil to make biofuel, it's just that the commercial promise was overstated. Here jatropha used in one of traditional uses, a living fence, photo: Trees For The Future via flickr.
Not so long ago jatropha was seen as a wonder crop—drought tolerant, soil tolerant, promisingly high yields—but oh what a difference a year makes. Many of the claims regarding jatropha have turned out to be extreme examples of success portrayed as the norm. BP seems to have finally realized this, backing out of its joint venture with UK-based D1 Oils for, as the Wall Street Journal puts it, less than the price of a nice London apartment:D1 Oils will buy out BP a mere £500,000 ($823,000), even though the joint venture is valued at more than £7 million ($11.5 million). Over its two-year lifetime, the joint venture planted some 200,000 hectares of jatropha, about one-quarter of all jatropha planted for biofuel in the world.
On BP's future involvement in biofuels, WSJ reports that it will focus now producing cellulosic ethanol through its partnership with Verenium in the United States, on sugarcane and ethanol in Brazil, and on biobutanol.
via: Environmental Capital
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