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E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE |
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Biodiesel B2 Blend Selling Below Average Diesel Cost At Salt Lake City Pumps |
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BAKERSFIELD, CALIFORNIA, Sep. 23 -/E-Wire/-- American Biofuels (ABF), which is 35 percent owned by Green Star Products, Inc. (OTC: GSPI), announced today that according to an article published in the Salt Lake Tribune (September 17, 2004) B2 biodiesel blend is now selling at 3 cents below average diesel price in Salt Lake City, Utah.
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The article states "Alternative fuel enthusiasts have a new place to fill up. The first biodiesel fuel pump in Utah opened Thursday at Dal Soglio Sinclair, 7398 S. 700 West, in Midvale. The station now sells diesel fuel that is a 2 percent biodiesel blend (B2), along with conventional unleaded gasoline. The B2 blend costs $1.94 per gallon, which compares favorably to the average cost of diesel in the Salt Lake City-Ogden area, about $1.97 per gallon."
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American Biofuels produced the biodiesel in its Bakersfield Plant (in Southern California) and it is distributed in Salt Lake City by Green Star Intermountain, L.L.C., an associate company.
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American-made biodiesel is used as an alternative fuel, or a fuel-improving additive at lower blends, that is made from any fat or vegetable oil, such as soybean oil. Biodiesel is nontoxic, biodegradable and essentially free of sulfur and aromatics. Biodiesel can be used in diesel engines with little or no modification and blended with petroleum diesel at any level. Biodiesel provides environmental and health benefits, and performance benefits such as increased lubricity leading to longer engine life.
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Many political leaders believe that biodiesel is too expensive to be a viable alternative fuel but the Clean Cities Program in Salt Lake City is proving otherwise. If the US Government adopted a program similar to the European Union (where a 2 percent blend in all diesel will be mandatory by 2005), it would require a 5,000 percent increase in biodiesel production in the U.S. from current production levels.
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A nationwide use of B2 would create new jobs, put farmers to work, clean the air, reduce the U.S. international balance of payment deficits, reduce our dependence on foreign oil and create a renewable, sustainable source of energy.
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"You can measure the impact with just 2 percent biodiesel," said Beverly Miller, director of Utah Clean Cities Coalition, a grass-roots organization that promotes alternative fuels.
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The U.S. Department of Energy's Clean Cities Program's (www.eere.energy.gov) mission is to advance the nation's economic, environmental, and energy security by supporting local decisions to adopt practices that contribute to the reduction of petroleum consumption. Clean Cities' community-based network of more than 80 volunteer coalitions work to develop public/private partnerships to promote alternative fuels and vehicles, fuel blends, fuel economy, hybrid vehicles, and idle reduction.
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More than 400 major fleets use biodiesel commercially nationwide including all four branches of the military, NASA, Harvard, National Park Service, U.S. Postal Service and others. About 300 retail filling stations make various biodiesel blends available to the public, and more than 1,000 petroleum distributors carry it nationwide. American Biofuels thanks the Clean Cities Council and Steve Dal Soglio, owner of Salt Lake City's Sinclair station, for showing the U.S. the way to future energy independence.
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For more information on biodiesel use around the country visit the National Biodiesel Board (www.biodiesel.org) a nonprofit organization that serves as the central coordinating body for biodiesel research, development, and education.
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Green Star Products, Inc., is an environmentally friendly company dedicated to creating innovative cost-effective products to improve the quality of life and clean up the environment. GSPI is involved in the production of renewable clean-burning biodiesel and other products including lubricants, additives and devices that reduce emissions and improve fuel economy in vehicles, machinery and power plants. For more information, see GSPI's Web site at www.GreenStarUSA.com or call Investor Relations at 619-864-4010, fax 619-789-4743, or email info@GreenStarUSA.com. Information about trading prices and volume can be obtained at several Internet sites including www.bloomberg.com and www.bigcharts.com under the ticker symbol "GSPI."
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Forward-looking statements in the release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic filings with the Securities and Exchange Commission.
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