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-- hear on after the bell.
Let's -- to another company renewable energy group.
Can you mentioned burning old so -- oil.
Old corn oil and it actually makes a diesel truck crime while they did an about face on their third quarter outlook this morning it's great idea.
Is tanking -- on news that they are not going to come in with gains for their earnings in fact.
They will have losses the biodiesel company originally expected to gain ten to fifteen million dollars but now it's warning of the two to seven million dollar loss.
But we welcome nonetheless the CEO in a Fox Business exclusive renewable energy CEO and president Dan when you know what a lot of people would say I'm out I'm not gonna be home.
On television on a day like that's why are you hear what here to talk about really on a tough day for the stocks.
Well it's it's clearly -- they've -- the investors and for a company at the same time.
It's a great opportunity talk about a company in the opportunities we have movement had were excited about the business is great business to be and we think it's temporal issue a -- -- why are you lowering your outlook cured factor swinging it to an outright -- once we get through that we'll talk about the good part of politics yeah -- -- appreciate that.
Well we're we're we're finally -- be candid and being candid and transparent with markets and in the last part of the third quarter the markets fundamentally change we saw -- commodity prices.
And -- values deteriorate in a way that was unexpected and now we've got a flexible business model and a very.
Strong balance sheets so we've we're very good and are feeling about our ability sustain -- growth strategies and so -- got to work through this.
But we -- we have become on talk about -- Let's talk about why the agriculture picture matters and I'm sure the drought related to this but you turn trash into treasure in your trash is basically.
Waste agriculture waste everything from cooking oil to spike gets soy oil and corn oil the inedible parts of corn oil -- And you turn that into an outright fuel limited runs trucks and have -- and doesn't denigrate the engine itself.
Not not not all in fact it's better for engines to use our product because it adds we -- -- city.
And as a product that works really well SAT where diversity -- -- lubricates again thank you nice and run better.
So so we take fats and oils.
Preferably waste products and and convert them into biodiesel which is -- drop in fungible substitute war fuel producing can use it up -- -- 100% level and it -- diesel -- across the country without modification.
-- the military has -- The military is using that in bases in garrisons.
Is still working on whether or not they're using tactical vehicles but right now the military is very much in support of -- how much does that cost per gallon we here in California five dollars a gallon for gasoline what is your fuel costs.
Yes so so when we -- a gallon biodiesel were selling -- gallon of energy handing down of compliance.
And a gallon of energy -- at the same fuel price that you would buy diesel fuel or heating oil in the marketplace the same price same prize.
And then the rin value this compliance component Renault one unification numbers be independently price they -- and they get sold to the obligated what.
Let's make this clear to viewers the EPA came out with its new.
I guess regulations that are required.
And it'll be as I understand -- about one point -- one point 28 billions of gallons of science.
Is that correct one at one point who is doing -- billion gallons of renewable fuel must be used by home.
That they the fuel has to be consumed and used in the United -- -- And that and that's one of the things that confirms that we got the environmental and the economic benefit of the fuel.
The proof which of those brands that -- and up in the hands of refiners and importers of oil.
So the fuel gets consumed the -- canceled -- -- -- may end up every year in the hands of people like Exxon or shell would be.
In the end how crucial is bio diesel fuel to economic stability here and sustainability.
We have people leave some people were running out of bed or we don't have enough -- that we can't extract petroleum.
So of course it behooves us to look for alternatives it's just specific cost too much to bacon you're not making money in the investors aren't making money does -- not become problematic.
And well well this year.
What we've we've made money out of -- -- basis and in fact the last quarter despite our our earnings downturn.
We actually grew our volume of sales was not a lack of demand for biodiesel effect is good demand from the diesel again we've got a commodity issues important -- -- -- industry.
It's a temporal activity.
It's great working for RE GN for industry because our product helps with food security with energy security it really helps clean up the -- and helps with.
Harvard well it's down about 45% over the past year including today but the PE is still cheap it's a six for the price to earnings ratio to and it's good to see you thank you and I should mention great American patriot -- to West Point served as an army major.
Running up a company that has a forward thinking company renewable energy group thank you so much thank you very.
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