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.
http://search.ft.com/ftArticle?queryText=OPEC&aje=true&id=070607011195

home