World Biofuel Leaders to OPEC: Who Are You Trying to Kid?

16 Jul 08

The world biofuels industry issued a sharp rebuke to the Organization of Petroleum Exporting Countries (OPEC) and its president, Chakib Khelil, in the pages of the Financial Times on 16 July. In a full page ad, the biofuel industries of Brazil, Canada, Europe and the United States took the oil cartel to task for outrageous, misleading, and unsubstantiated claims about the role of ethanol in world oil markets. The biofuel trade associations’ ad pointed out the very real competition biofuels is proving to be for oil producers. The groups –- the Canadian Renewable Fuels Association (CRFA), the European Bioethanol Fuel Associations, the Brazilian Sugarcane and Ethanol Industry Association (UNICA) and the US Renewable Fuels Association – were answering the charges by OPEC that ethanol was in part responsible for the soaring price of crude oil, a price that will fetch OPEC nations more than $1.2 trillion dollars this year alone.
http://www.prweb.com/releases/2008/7/prweb1115304.htm

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