"Big oil is behind ethanol's bad press." That's what Javier Salgado, CEO of Abengoa Bioenergy, one of Europe's leading ethanol producers, said in an interview published in Econoticias. Salgado took on more than big oil as he counteracted all the negative press ethanol is receiving from all sides. First of all he, claimed that biofuels were not responsible for the rise in food prices, given that prices have now come down yet we are using more biofuel than ever. His opinion is that the rise in oil prices was to blame. He even suggests that food companies aren't likely to lower prices now that feedstocks are back to more reasonable prices.
So why are so many voices raised against biofuels? Salgado said that it's because big oil companies are threatened by the expansion of biofuels. According to him, ethanol - which is already at five percent of the market in the U.S. - is taking sales away from gasoline. This can only make big oil companies angry and do "whatever they can" to avoid the expansion of biofuels in order to keep their market share. Speaking about Spain, where Abengoa Bioenergy is based, Salgado stated that the country has no more ethanol fuel pumps because most gas stations belong to big oil companies. There, that should get people talking.

[Source: Econoticias]





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