30 Fairmont Park Lane S
Lethbridge, AB T1K 7H7
Phone: (403) 328-1704
Sunday, November 30, 2014
The Lethbridge Herald
P.O. Box 670
Lethbridge, AB, T1J 3Z7
Biodiesel Plant Bankrupt
I heard, on May 27th this year that Kyoto Fuels Lethbridge biodiesel facility
was under bankruptcy protection. I was incredulous. The President of Kyoto Fuels
had just made a presentation to SACPA on January 23 suggesting all was well with
the biodiesel industry in Canada.
A little internet searching quickly confirmed the news. The Office of the
Superintendent of Bankruptcy at Industry Canada provided a notice dated April 30
indicating Ernst and Young in Calgary had been appointed the “monitor” of
bankruptcy proceedings. The sad story is developing on their website.
I’m surprised at the lack of discussion in local media. Biofuel initiatives have
been touted here for several years as a means of reducing greenhouse gas
emissions to ameliorate global warming. A search of Lethbridge Herald archives
alone indicates no less than 55 stories related to “Kyoto Fuels” since 2003. The
latest reports on the SACPA session in January.
I guess no one likes to be the bearer of bad news. However, this is something
citizens should be informed about. Hundreds of millions of dollars of government
funding has been directed to biofuel initiatives linked to climate change
action. They may be of little value and in cases like this appear to be
completely ineffective. Indeed, global warming seems to be developing at a far
slower rate than postulated over the past 25 years. Remedial action may not be
warranted at all.
I am hoping Kyoto Fuels failure will spark some serious investigative journalism
on this issue. There must be better ways to spend our tax dollars.