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Today in Biofuels Opinion: “40 percent of oil price increase due to ethanol”

July 7, 2008

Chakib Khelil, president of OPEC: “The intrusion of bioethanol on the market [is responsible for 40 percent of oil price increases]…The price of oil will rise again in the coming weeks…We have to follow the evolution of the dollar, because a 1% fall in the dollar means $4 more on the price of oil.”

Editorial in the Birmingham Press-Register: “Congress is pouring $3 billion a year in subsidies into ethanol-blended fuels. What are Americans getting in return, besides higher grocery prices? Nothing. Ethanol is less efficient than gasoline, which means you have to burn more fuel to drive the same number of miles. Ethanol doesn’t reduce pollution, either. Studies show pollution from the diesel fuel that powers the farm equipment needed to cultivate corn offsets the small air-quality gains from drivers filling up with the alternative fuel.

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    Written by Jim Lane · Filed Under Opinion 

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