Is going green good business

The new president has publicly stated he intends to commit more resources to alternative and renewable energy development. Ironically, these statements have coincided with a drop in oil prices from in excess of $150 a barrel to less than $40. This drop has already resulted in people and operations backing off of their stated commitment to alternative options. The question remains, “Is going green good business?” There are a number of options available for processors of grain-based products when it comes to reducing their environmental footprints. These include reducing energy usage, reducing water usage, taking steps to enhance air quality, reducing packaging, reducing waste, and enhancing overall operational efficiency. Any or all of these will result in what all companies like to see, that is, cost savings. This begs the next question, “Is the cost of a green commitment worth the investment?” Perhaps the greatest potential for savings is in the area of energy usage. Operations that commit to reducing energy usage are making a long-term commitment to greater stability. The rapid rise in oil prices a few years back hit many companies very hard simply because no one anticipated such a radical jump. This impacted plant operations, shipping, and every unit operation that utilized oil for fuel.