Stop.  It’s nonsense.  Big Oil LOVES biofuels.  With good reason.   And at last I’m not the only one pointing this out:

“Big Oil is one of the major engines driving the biofuels bandwagon.  Measuring all energy inputs to produce ethanol, from production of nitrogen fertilizer to energy needed to clean the considerable waste from biofuel refineries,  they use more energy than they produce. That translates into huge profit for clever oil giants that re-profile themselves as “green energy” producers.

So it’s little wonder that ExxonMobil, Chevron and BP are all into biofuels. This past May, BP announced the largest ever research-and-development grant to a university, $500 million to the University of California-Berkeley, to fund BP-dictated R&D into alternative energy, including biofuels. Stanford University’s Global Climate and Energy Program got $100 million from ExxonMobil; University of California-Davis got $25 million from Chevron for its Bio-energy Research Group. Princeton University’s Carbon Mitigation Initiative takes $15 million from BP.”

The Great Biofuel Fraud:
http://www.atimes.com/atimes/Global_Economy/IH01Dj01.html …

This entry was posted on Wednesday, August 1st, 2007 at 10:12 pm and is filed under Energy Future, Environment, Tax Reform/Tax Fairness. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.