December 10th, 2008
Green Tech Bubble Deflation--Matches General Economy?
A couple American ethanol plants are being shutdown, at least for now. One is in Indiana, the other in Ohio. AltraBiofuels gives its official reason for the closures: “market conditions.” Read that as much lower gasoline prices. If gasoline prices continue to stay at this level or drop further, you have to wonder about agencies having to roll back their alternative fuel mandates for vehicles.
Among AltraBiofuels investors are Kleiner Perkins, Khosla Ventures and Sage Capital. Pedigree of the VC doesn’t forestall serious market shifts. Talk about a game-changer? How about a global economic slump that halves the price of gasoline in less than six months. Game changed, perhaps for some alternative fuel dreamers, game over.
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A newsman since 1969, Harry Fuller has worked for CBS, ABC, CNBC Europe, CNET and was founding news director at TechTV. See his full profile and disclosure of his industry affiliations.
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