The world’s major stock markets and clean energy indices were mostly down this week as Americans headed into the Memorial Day long weekend. The only exception was the EnergyBoom Biofuel Subindex (E•B Biofuel) which increased 1% for the week.
Stock markets rose today despite the Japanese earthquake, but they failed to overcome the mid-week worries about increasing gasoline prices damaging the fragile economic recovery.
U.S. stock markets and all overseas markets finished the week in negative territory. Indices reflecting the clean and efficient energy sectors were also down, with solar companies faring the worst.
Here are two very different advanced biofuel strategies: Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) is producing algae from byproducts at one of its commercial ethanol plants to make biodiesel, and Codexis, Inc. (NASDAQ: CDXS) is developing biocatalysts to produce advanced biofuel and pharmaceuticals and to remove carbon from smokestacks.
Yesterday’s market selloff took a broad swipe across all sectors, with the solar stocks being the hardest hit among green sectors. The E•B Solar subindex lost 6.61 percent yesterday, compared the overall E•B Solar Clean 100 (down 2.98 percent), the S&P 500 Index (down 1.62 percent), the Dow Jones Industrial Average (down 1.59 percent) and the NASDAQ composite (down 1.95 percent). European exchanges were down slightly more than U.S. markets.
The EnergyBoom Biofuel Subindex (E•B Biofuel) has increased 4.53 percent in the period October 1 through October 19, outperforming the green ETFs and broad markets regularly covered by EnergyBoom.
Ethanol stocks were up moderately in the first hours of trading this morning after the Wall Street Journal reported that the Environmental Protection Agency (EPA) was planning to allow ethanol levels in gasoline to increase to 15 percent from the current 10 percent level in late model