Business Services Industry
Renewable Energy Becoming Reality, 'GRGR' Gains Momentum; Oil at $60, US Senate OK'S 10% Renewable Energy
Business Wire, June 20, 2005
HUNTINGTON, N.Y. -- Green Energy Resources (nasdaq otc pk .GRGR) gained momentum heading to the Wall ST. Renewable Energy Forum this week. The US Senates' inclusion of renewable energy provisions in the Energy Bill, insures at least 10% of US energy will be generated from alternative sources. $60 per barrel oil, Kyoto, and the new Federal EPA air rules takes Green Energy from speculation to reality. Green Energy Resources raised its 2nd qtr profit guidance last Friday, and is expected to release the data this week.
In other company news, shipping and freight costs have dropped in the last month,increasing ship availability at lower costs for biomass exports. The lower costs is great news for Green Energy Resources, because it has international export contracts pending ship procurement. GER met with ship owners in New York City last week.
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
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