« Going Green’s No Good For Gas Prices | Home | Some Facts On Refineries And Ethanol »
Big Business Finds Love For Ethanol
By Mr Ethanol | June 18, 2007
Corrente Wire:
A push from Congress and the White House for huge increases in biofuels such as ethanol, is prompting the oil industry to scale back its plans for refinery expansions - which could keep gasoline prices high, possibly for years to come.
With President Bush calling for a 20 percent drop in gasoline use and the Senate now debating legislation for huge increases in ethanol production, oil companies see growing uncertainty about future gasoline demand and little need to expand refineries or build new ones.
Oil industry executives no longer believe there will be the demand for gasoline over the next decade to warrant the billions of dollars in refinery expansions - as much as 10 percent increase in new refining capacity - they anticipated as recently as a year ago.
Biofuels such as ethanol and efforts to get automakers to build more fuel-efficient cars and SUVs have been portrayed as key to countering high gasoline prices, but it is likely to do little to curb costs at the pump today, or in the years ahead as refiners reduce gasoline production.
When I saw that Jeb Bush had become involved in ethanol development, it was the clincher to several hints I’ve seen that ethanol is being taken over by big business as its next source of abusing the public… to use biofuels as an excuse to keep oil prices high comes as no surprise.
Topics: Biofuel, BizOp, Ethanol, Gas, Industry, Legislative |
Related Posts
- In US Farm Belt, Ethanol Plants Hit Resistance
- White House Hopefuls Love Iowa Ethanol
- Mandated Ethanol Usage: A Good Idea?
- Ethanol Company Doesn’t Think Big
- Tycoon’s Team Finds Fewest Number Of Genes Needed For Life And Seeks Patent For It
- Studies Suggest Biofuels Can Worsen Warming
- How Ethanol Is Making The Farm Belt Thirsty
- House Approves New Taxes On Big Oil
- Study: Food Prices Up $14 Billion Due To Ethanol
- Ethanol Entrepreneurs Making Their Moves
New Way Of Making Easy Money Online