Sen. Barack Obama says “we have to invest in research on biodiesel, biomass and new forms of ethanol”

On a campaign stop, Barack Obama told KPC News,  “Oil companies have not invested in the refinery capacity expansion that we need, given all the profit that they are sitting on…It is important to recognize that we aren’t going to be able to simply increase supply. We have to decrease demand. That’s why I place such a heavy emphasis on increasing fuel efficiency standards in cars. If you increased fuel efficiency in cars to 40 mpg we would save the equivalent of all the oil we import from the Persian Gulf….Long term we have to invest in research on biodiesel, biomass and new forms of ethanol as well as pursuing the possibility of cars that are plug-in hybrids that could get 100 to 150 miles per gallon.

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