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Florida Mortgage | Green News ~ BioFuel Alliance on shaky Political Grounds

By David A. Podgursky, MBA • Nov 12th, 2007 • Category: South Florida Info

Lurking in the shadows of the current Florida Property Tax issues, Florida Governor Charlie Crist (R) has been traveling with several key Florida Legislators through South America working different trade agreements. The most lucrative of which would have created an enormous trade agreement with Brazil to import Ethanol into the United States.

Florida would serve as the National Headquarters for this effort potentially bringing billions in profits to the state to help fill our tax coffers when they are depleted from property tax cuts. Unfortunately, the deal with Petrobras seems to be on the back burner — indefinitely.

Petrobras is the Brazilian state-run energy producer and mass distributor of bio-fuels. On my trip to Sao Paulo two years ago, I noticed almost every gas station offered both Ethanol and Methanol… and Ethanol was 1/2 the price!

Brazil’s massive Sugar industry supplies most of the raw materials that are chemically refined into Ethanol.

According to an article on Tallahassee.com, the issue at hand for Governor Crist is that Petrobras (NYSE stock symbol PBR) has confirmed business links to Iran. That linkage violates the spirit of a bill he signed in June that forbids the state from investing its $140 billion pension fund in companies that do business with Iran.

“I am deeply committed to showing the world that Florida will not support companies that threaten our nation or our allies,” Crist said in a written release. “We will continue to follow the moral and prudent path by not doing business with companies that sponsor terror and by setting an example for all other states and nations.”

This is a big disappointment considering the benefit it would have for the Florida Economy as well as the National effort to “Go Green“. This also shows that the US needs to consider its many options for producing its own Ethanol and other Bio-fuels domestically to reduce the US dependence on Foreign Fuels.

For more information on Petrobras and Ethanol here are some more links

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David A. Podgursky, MBA
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