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Microcap & Penny Stocks : HIPC - up 20% (Record 4th quarter projected) -- Ignore unavailable to you. Want to Upgrade?

To: mannyj who wrote (210)	10/31/2000 11:46:17 PM
From: mannyj	Read Replies (1) \| Respond to of 213

Finance Home - Yahoo! Top>Business & Finance>Investments>Sectors>Basic Materials>Chemical Manufacturing> HIPC (High Plains Corporation) Welcome, ejjarvis Options - Edit Public Profile - Sign Out Yahoo! Message Boards: HIPC Add to My Yahoo! - Help Enter symbol: symbol lookup More HIPC Info: Quote & News \| Profile \| Insider < Previous \| Next > [ First \| Last \| Msg List ] Msg #: Reply Post Ignore this User \| Report Abuse looks like help is on the way by: recruiterplus 10/31/00 6:17 pm Msg: 1664 of 1664 Tuesday October 31 5:26 PM ET Biodiesel Production Subsidized By PHILIP BRASHER, AP Farm Writer WASHINGTON (AP) - Companies that make ethanol, biodiesel and other fuels from farm products will be offered direct government subsidies to buy crops such as corn and soybeans. Payments will be capped at $7.5 million per company, under the two-year program announced Tuesday by the Agriculture Department. The subsidies will range from 29 percent to 40 percent of the cost of the crops, depending on the size of the company. ``This program will help us tap into a huge domestic energy reserve, our family farmers,'' said Agriculture Secretary Dan Glickman. ``Encouraging the use of bioenergy benefits America's farmers, while improving our energy security and helping to protect the environment.'' Although the payments would be aimed at small firms, any farmer-owned cooperative or company would be eligible for the payments, including ethanol industry giant Archer Daniels Midland Co., USDA officials said. Ethanol production, which already is subsidized by a 5.4 cent-a-gallon federal tax break, currently consumes about 600 million of the more than 9 billion bushels of corn grown annually in the United States. Production of biodiesel, which is made from soybeans, does not have a similar tax break. The new program, which could help as many as 58 facilities in 18 states, is set to last two years at an annual cost to taxpayers of $150 million. Among the plants that could benefit is one near Albert Lea, Minn., owned by Agra Resources Cooperative. The plant, which opened last year, is tripling its capacity at a cost of $18 million to about 45 million gallons annually, said Charles Pyatt, an Iowa corn grower who helped found the farmer-owned cooperative. ``Our goal and our purpose in building this was primarily to help us weather these downturns in the market cycle, when corn gets exceedingly low-priced. Ethanol becomes profitable when corn is as cheap as it is now,'' said Pyatt. Sen. Tom Harkin, D-Iowa, said the program ``will encourage smaller plants and farmer-owned co-ops that produce ethanol and other renewable fuels to expand production.'' The Agriculture Department also is soliciting proposals for pilot projects that will use harvested vegetation to produce energy. Grass and other plants can be burned and converted into combustible gas or used to produce liquid fuels. The pilot projects will be limited to vegetation from land enrolled in the government's Conservation Reserve Program, which pays farmers to take acreage out of production. None of the projects will be allowed to exceed 50,000 acres. - Ignore this User \| Report Abuse < Previous \| Next > [ First \| Last \| Msg List ] Msg #: Reply Post All Subject Message Text Authors Reminder: This board is not connected with the company. These messages are only the opinion of the poster, are no substitute for your own research, and should not be relied upon for trading or any other purpose. Never assume that you are anonymous and cannot be identified by your posts. Please read our Terms of Service. For more information regarding investments and the Internet, please visit the SEC Web site. Copyright © 1994-2000 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Guidelines - Help