BUFFALO, N.Y.--(BUSINESS WIRE)--Global Earth Energy Inc. (OTCBB: GEEG - News). In our first year of production the company plans to use refined waste vegetable oil for feedstock supplied by Ever Green Renewable Energy Development. However, going forward, our ability to obtain local feedstock is the key to controlling the cost of producing biodiesel. Consequently we plan to establish relationships with local feedstock suppliers in North Carolina, a state with heavy concentrations of agriculture and meat processors. Establishing relationships with local feedstock suppliers will help ensure that we have adequate long term supplies of diversified feedstock to run our plants at full production capacity.
Global Earth Energy, President and CEO Sydney Harland commented, “With only 170 biodiesel plants in production in the US, the market is hungry for new biodiesel production capacity. When it comes to alternatives to oil, biofuels hold the greatest short and long term promise among all other options. Biofuels are greatly in demand, especially from the transportation sector, which is responsible for producing 25% of greenhouse gases. Most importantly, biofuels are a proven and reliable technology.”
When oil hit $146 dollars a barrel in mid-2008, everything changed. Even though oil prices have since receded, the message hit home. Americans believe that higher petro-fuel prices mean that we must move away from our dependence on oil, particularly foreign oil, and toward renewable energy and energy efficiency, according to the Natural Resources Defense Council. Biodiesel can be the primary clean fuel that helps free America from its dependence on foreign oil.
Complete information about the Company and its services is available at the GEE Website: www.globalearthenergy.com
Statements in this press release that are not statements of historical or current fact, including statements relating to the Company's expectation regarding the future performance and marketability of its products, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates, “should," "will," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports filed with the Securities and Exchange Commission and the Canadian securities commissions.
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