Valero says high corn prices will affect world more than climate change

In California, the CEO of the largest US oil refiner, Valero, said that “Corn and ethanol production and the resulting high prices will impact the world in a much more acute negative way than greenhouse gas emissions and climate change ever will.” Valero CEOs remarks at the National Petrochemical and Refiners Association meeting seemed to be at odds with ConocoPhilipps declaration that the oil company plans to invest in biofuels.  Klesse criticized US government, the press and environmentalists for making a “serious attack” on the oil industry while excusing issues associated with ethanol.

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