Monday, June 18, 2007

 

Biofuels Crimping Oil? Balderdash!

Lately the media have been full of pronouncements by oil companies and oil-producing countries that if consumer countries are going to go all-out with biofuel development and production, it makes no sense for oil-producing countries to increase production, or for oil companies to build new refining capacity.

What a line of BS! Anyone with half a brain knows that biofuels are produced with copious quantities of fossil fuels. No fossil fuels, no biofuels. And since the biofuel industry is a giant scam which consumes more energy than it produces (while enriching a few people at the expense of many), it logically follows that to produce more biofuels, it is necessary to consume more fossil fuels. Even investors are waking up to the fact that biofuels are a bust.

So, what’s this really all about? It’s a convenient smoke screen to hide peak oil. Oil producers and refiners can all claim that they are not expanding production capacity because of the biofuel boom. And the gullible world public, which has been led to believe that biofuels are “environmentally friendly” and “making us independent of foreign oil,” will lap up this corporate media vomit as always. In reality, oil producers and refiners can’t expand production, but they can hide it with this handy excuse.



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