"The Enron Exec's $150 Million Biofuel Gamble with ExxonMobil"
Richard Palmer's Global Clean Energy Holdings acquired an aging California refinery to process camelina, a plant with oil-rich seeds, for biofuel production. ExxonMobil invested $150 million in the venture but later sued GCEH, alleging mismanagement and contract breaches. GCEH denies the allegations and plans to make the refinery operational by midyear, initially producing 9,000 barrels per day. The company aims to use camelina as a low-carbon feedstock and has faced challenges in securing sufficient supply. The lawsuit's outcome could have significant implications for GCEH and its stakeholders, including ExxonMobil.