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|Articles - February 2010|
|Thursday, January 21, 2010|
Wood pellets are looking like the next big thing in Oregon’s campaign to create green jobs. Or are they?
First Prineville-based Ochoco Lumber received a $4.9 million stimulus grant through Business Oregon to construct a wood pellet factory in John Day. Then a Redmond start-up named Pacific Pellet announced plans to convert 40,000 tons of scrap wood per year into pellets to heat homes and businesses and eventually fuel everything from schools and hospitals to factories and power plants. Ochoco’s grant will enable it to retain 80 workers and create 11 new jobs, while Pacific Pellet is expected to employ 20 people. Both plants will produce an alternative fuel from a renewable resource that burns with very low emissions.
Of course, that was the claim with ethanol, too. Industry insiders say the last thing the wood pellet industry needs is more production. Three wood pellet plants in Oregon have been shut down recently because of severe oversupply in the market.
Chris Sharron, president of West Oregon Wood Products in Columbia City, has suspended production at both of his mills and laid off 30 workers until the pellets start moving again. “Demand has dried up,” he says.
As with ethanol, skyrocketing fuel prices powered massive speculation in wood pellets, followed by subsidized construction and overcapacity. European Union nations required by law to find new sources of “carbon neutral” energy have been burning more pellets and less coal in their power plants, importing millions of dollars worth of pellets from the U.S. each week. The European market has justified the construction of huge new pellet plants in the Southeast, where production has grown by a factor of 10 over the past five years. But it’s a long road from Central Oregon to Europe.
The market in Oregon has been fickle. Sharron says 2008 was his best year ever, but 2009 was his worst. The state has tried to intervene by offering tax credits for pellet stoves and paying to convert schools to pellet fuel. “We’re trying to take a responsible and efficient approach to growing this demand,” says Matt Krumenauer, a senior policy advisor for the Oregon Department of Energy.
Whether they can grow enough demand to sell 80,000 new tons per year of wood pellets remains to be seen. Mark Stapleton, president of Pacific Pellet, says he is confident the market for pellet stoves will rebound and grow. “We’re not trying to displace anybody,” he says. “We’re just trying to give the consumer more options.”
Friday, July 18, 2014
BY JASON NORRIS | OB GUEST CONTRIBUTOR
Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”
Wednesday, July 02, 2014
BY JESSICA RIDGWAY | OB WEB EDITOR
Dress for Success Oregon promotes the economic independence of disadvantaged women by providing professional attire, a network of support and career development tools.
Wednesday, July 09, 2014
BY LINDA BAKER | OB EDITOR
Scott Kveton, the CEO of Urban Airship is taking a leave of absence from the company. As the story continues to unfold, here’s our perspective on a few of the key players.
Thursday, June 26, 2014
BY ERIC FRUTS | OB BLOGGER
Last year, the housing market in Oregon—and the U.S. as a whole—was blasting off. The Case-Shiller index of home prices ended the year 13% higher than at the beginning of the year. But, was last year a blip, or a trend?
Thursday, July 24, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
With the increasing retirements of Baby Boomers, a massive real estate shift has created a significant increase in demand for NNN properties. The result? Increased demand has triggered higher prices and lower yields.
Monday, June 30, 2014
Oregon Business magazine won two silver awards for excellence in writing in the National American Society of Business Publication Editors Western region competition.
Thursday, July 24, 2014
BY LINDA BAKER | OB EDITOR
Remember the naysayers? Those who called the South Waterfront aerial tram a boondoggle? Those who rejoiced at the massive sell off of luxury condos at the John Ross and Atwater Place?
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