An Oregon ethanol plant that went bankrupt within a year of opening is now being used to store and ship Bakken crude oil. The plant was built at a cost of $200 million and was supported by $36 million in green loans and tax credits. The plant was purchased by Global Partners of Massachusetts in February for $94.2 million.
Global Partners is using the facility for crude oil transloading and could restart the ethanol plant if market conditions improve.
The facility is in the Port of St. Helens' Port Westward industrial park near Clatskanie, OR. The facility began accepting crude oil by rail deliveries late in 2012.
It's the first major crude oil terminal to begin operations in the area in decades.