Biofuels no threat to Opec, says IEA |
07 Jun 07 |
The next decade biofuels would satisfy only a small portion of the world's demand as the need for oil grows. Claude Madil, the Head of International Energy Agency, told Financial Times that there will be a need for an increase in production by OPEC countries. Mr. Mandil said “OPEC has nothing to fear. Even in the most optimistic scenarios, the contribution from biofuels would be small.
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