uploaded from pacres on flickr.
PetroSun is paying catfish farmers in Mississippi to convert their ponds to algae production.
Here’s the deal, according to Terri Chiang, an authorized agent for PetroSun BioFuels
“initially, we have arranged for the landowner to receive $50 per water acre signed into the program as a sign-up, one-time payment. Additionally, the landlord will receive advance base rent payments at the beginning of every year of $100 (per acre).”
The real money for farmers would be the monthly royalties. For Barret and Jordan, who own 744 water acres, royalties could mean between $744,000 and $892,800 a year, based on PetroSun’s formula.
Nice work if you can get it. But what’s it going to do to catfish prices?