SOURCE: IOCircuit

May 05, 2006 07:30 ET

Canada Makes an Investment in Biofuels: (OTC: BSLM)

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IOCircuit.

LAKE HARMONY, PA -- (MARKET WIRE) -- May 5, 2006 -- Annual production of the emerging biofuel source canola could double in 10 years if the Canadian government develops a biofuels policy that it mentioned in its recent budget, the Canola Council of Canada president said on Wednesday. The minority Conservative government announced the federal budget on Tuesday, stating it will invest in a biofuels strategy. The canola seed is a Canadian variant of rapeseed produced primarily for salad oil, cooking oil and mayonnaise.

"We think that adding biodiesel to our market is going to trigger increased research and development, and that increased research and development will result in us, hopefully by the end of the decade, being around 14 million tonnes of production on average triggered off of food and non-food use demand," said Canola Council President Barb Isman.

The 10-year average production for 1995-2004 is 6.6 million tonnes, according to Statistics Canada. One biodiesel company working on solutions is Bio-Solutions Manufacturing, Inc. (OTC BB: BSLM) (Frankfurt: B2T).

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