From UBS Investment Research: “We believe that, despite all the recent talk and news coverage of the food vs. fuel debate, it is unlikely that the [Renewable Fuel Standard] will be repealed or waived anytime soon…With ethanol production likely to meet and exceed RFS mandates from new capacity, a reduced mandate won’t lessen production near-term.”
The international Energy Agency: “It is sobering to realize that [1 million barrels per day] of oil would be needed to replace [biofuels],” said the IEA.
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