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Thursday, April 26, 2012

But What Else Can NewPage Study For "US"?

After receiving $30 million in 2008, and another $20 million last year from the U.S. Department of Energy to study the feasibility to produce biodiesel fuel from waste residue at its Wisconsin Rapids mill, NewPage pulls the plug by determining "that the economics did not justify the company's continued participation with the project."  With diesel fuel prices near their 2008 all time highs, one wonders how high the price of diesel fuel would have to be to make the project viable?  Or just maybe NewPage (in Chapter 11) isn't willing to commit to making future mill waste at this location?