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GM Believes Ethanol As Renewable Fuel Is Best Near-Term Alternative To Oil
By Mr Ethanol | December 3, 2007
Forbes:
General Motors Corp. on Friday clarified a newspaper report on a cost-benefit analysis of E85 ethanol, a renewable fuel made from 85% ethanol and 15% gasoline, saying the report failed to take into account several positive factors.
The Detroit-based automaker said it issued the statement in response to a report Friday in USA Today that said ethanol E85 fuel loses the cost-benefit test to diesel. The analysis cited in the report was conducted by the Pardee Rand Graduate School.
‘We believe ethanol as a renewable fuel is the best near-term alternative to oil as a transportation fuel and replacing gasoline with ethanol positively contributes to lowering greenhouse gas emissions,’ said GM Chief Economist Mustafa Mohatarem in a statement. ‘You cannot take a snapshot in time and define a mature market.’
Topics: Ethanol, Industry, News, Oil |
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