US ethanol enthusiasts including Vinod Khosla, American supermarket magnate Ron Burkle, America Online founder Steve Case, former World Bank President James Wolfensohn and film producer Steven Bing, have all become founding shareholders in the Brazilian Renewable Energy Company, according to AP.
The firm raised $200m in a private placement of shares and will be run by Philippe Reichstul, a former chief executive of Petroleos Brasileiro SA, Brazil's government-run oil company. Brazilian investors include Tarpon All Equities LLC and Grupo Semco. The firm will sell initially to the Brazilian market.
But this kind of investment by these people could mean they think that the US tariff is going to be reduced when the current tariff expires.
Hattip to David Adams at the fueling station.