« Biofuel Push Stalls Refinery Expansions | Home | Software Company Profits From Ethanol Boom In The US »
Future Ethanol Growth Not Responsible For Increasing Gas Prices
By Mr Ethanol | June 20, 2007
The Hill’s Congress Blog:
Oil company officials have recently made comments attempting to blame current high gas prices on their concern over future ethanol growth. The petroleum industry’s latest attack on ethanol is a rather preposterous attempt to blame ethanol for petroleum’s failure to meet the growing energy needs of the U.S.
In recent quarters, the petroleum sector has justified record profits by saying most of the money is being reinvested into increased exploration and production. But now they are saying that this hasn’t happened, and they don’t plan for it to happen in the future. Isn’t that the real story here?
Last spring when oil companies shorted the fuel supply by eliminating MTBE, gas prices went up and they complained that there wasn’t enough ethanol. Now these companies are saying that they’re afraid to expand because ethanol is getting too big. Which is it?
In hearings before Congress last year, oil company heads told of plans to increase fuel production by expanding refinery capacity by up to 1.8 million barrels per day – an increase of 10 percent over 5 years.
Topics: Energy, Ethanol, Gas, Positives, Prices |
Related Posts
- The Challenges And Opportunities In Increasing Ethanol’s Future Competitiveness And Growth In Europe
- Industry Report Shows Ethanol Margins Are Steadily Increasing
- US Gasoline Prices Rise To Almost $3.32/Gallon
- Plugging The Ethanol Argument
- Evaluating New Investment Opportunities In The Ever-Changing Agricultural Market
- N.Y. Gas Stations First In State To Sell Ethanol To Public
- Cheap Gas Web Sites: Waste Of Time Or Gas?
- Falling Corn And Rising Gas: Good For Ethanol Producers
- Gas Prices Force Americans To Push For Ethanol Fuel
- Economist Estimates How Much Ethanol Affects Food Prices
New Way Of Making Easy Money Online