Biofuels Project Sinks
The Red Rock Biofuels project in southern Oregon appears headed for foreclosure according to notices published in the Lake County Examiner newspaper in late December after the company failed to make principal and interest payments on some $300 million in debt. The notice set a February 4 payment deadline with a property auction scheduled for February 9. Originally scheduled for completion in 2017, the plant was going to use biomass from regional forests to produce sustainable aviation fuel (SAF) and was boosted by a $75 million Dept. of Defense grant and fuel commitments from FedEx and Southwest Airlines, plus state and local incentives and infrastructure improvements.
Cost overruns, process re-engineering, COVID-related delays and bankruptcy of a key supplier all affected the project. Construction had begun and there’s lots of equipment and machinery on site. Officials say there have been no public efforts to find a buyer to complete, repurpose or move the refinery.
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2024 Logger Survey: Working Tough Ground
Loggers across the U.S. responded to Timber Harvesting’s recent 2024 Logger Survey, which showed that contractors in all parts of the country are having a tough time grappling with rising costs and dropping demand in some areas. For example, for the first time ever across 20-plus years of logger surveys, the number of loggers who rate their company’s financial health “poor” (9%) to “very poor” (21%) outnumber those who say “good” (21%) to “very good” (7%)—30% to 28% overall in favor of the negatives.
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