States Rebuff Bush Energy
Plan, Adopt Kyoto, As Oil Nears $70; Green Energy Resources Procures Key Supply
to Power Sales
August 30, 2005 — By Green Energy Resources
Huntington, NY — Green Energy Resources (nasdaq otc.pk.GRGR ), citing the New
York Times from August 24, has learned 12 states will move forward with plans to
freeze power plant emissions and approve cap and emission trading. Nine states
led by New York have agreed to the plan, and three additional states led by
California have a nearly identical plan in the works. The Regional plan will
increase the number of Biomass power plants and promote co-firing to reduce
greenhouse emissions. The plan's impact insures growth for Green Energy
Resources and the renewable energy industry through 2020.
The New England Regional plan freezes emissions at current levels and begins
reductions by 2009. The plan effectively adopts the Kyoto Protocol changing only
the dates. The plan promotes and expands emissions trading, which has gained
momentum in both the US and European markets. In the United States, Citadel
Investment, a 12 billion dollar fund has opened an emissions trading desk, as
well as Susquehannna International Group, a 2 billion dollar fund which is also
a Nasdaq and NYSE market maker. On the European side, new funds include Swiss RE
and Dutch Essent.
Green Energy Resources CEO Joseph Murray stated. ”The renewable energy
industry's momentum is irreversible and unmistakeable.” It's a boost to the
company's plan for a London Stock market IPO in early 2006. The London market is
the international center for ‘green’ companies to go public. Green Energy
Resources IPO will be highly successful because the company has maturity, market
experience and is profitable. Green Energy Resources will include American
investors in the IPO, based on the number of shares they own of the company
stock in the United States.
In other company news, Green Energy Resources has agreed to terms with BioEnergy
Resources of Douglas, Texas, to purchase upwards of 100,000 tons of wood pellets
annually. Bioenergy Resources plans to construct a manufacturing facility in
Buna, Texas, in 2006. The plant will produce 200,000 tons annually according to
CEO Mike Bishop. The production capability will allow Green Energy Resources to
supply Europe's largest utility companies with pellets for co-firing. The annual
export represents approximately $10 million dollars in sales for Green Energy
Resources.
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.
Green Energy Resources
Joseph Murray
631-375-7921
joemurray@greenenergyresources.com
www.greenenergyresources.com
Worldwide Financial Marketing, Inc. USA
Investor Relations
International: 1-954-360-9998
National: 1-866-360-9998
Info@wwfinancial.com
BioEnergy Resources
Mike Bishop, CEO
936-715-9338