Re: Another side of biofuels

On Mon, 25 Jun 2007 19:50:09 -0700, Winston_Smith
<bogus@xxxxxxxxxxxxx> wrote:

<http://www.msnbc.msn.com/id/19276523/>
Ethanol could keep price of gas high
Industry won?t expand refineries since demand for gas will remain the
same

A push from Congress and the White House for huge increases in
biofuels, such as ethanol, is prompting the oil industry to scale back
its plans for refinery expansions. That could keep gasoline prices
high, possibly for years to come.

With President Bush calling for a 20 percent drop in gasoline use and
the Senate now debating legislation for huge increases in ethanol
production, oil companies see growing uncertainty about future
gasoline demand and little need to expand refineries or build new
ones.

Oil industry executives no longer believe there will be the demand for
gasoline over the next decade to warrant the billions of dollars in
refinery expansions - as much as 10 percent increase in new refining
capacity - they anticipated as recently as a year ago.

Biofuels such as ethanol and efforts to get automakers to build more
fuel-efficient cars and SUVs have been portrayed as key to countering
high gasoline prices, but it is likely to do little to curb costs at
the pump today, or in the years ahead as refiners reduce gasoline
production.

A shortage of refineries frequently has been blamed by politicians for
the sharp price spikes in gasoline, as was the case last week by Sen.
James Inhofe, R-Okla. during debate on a Senate energy bill.

Many of the polticians WANT to cause the price of fuels to go up
radically, in spite of what they try to imply - or even outright lie
about.

And the midwest farm state politicians want to cause huge increases in
the taxes on gasoline to PAY for the infrastructure for ethanol.

This means - of course - that they want to enrich their big
contributors - agribusiness - at the expense of everyone else.

As is often the case - you need only follow the money to see what is
really going on. Ethanol is being used as an excuse to rip off the
American public.
.

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