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OPEC Threatens Higher Prices from Biofuel Adoption

  #1  
Old 06-08-2007, 09:38 AM
Tofu+hybrd= crazy fun!
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Default OPEC Threatens Higher Prices from Biofuel Adoption

Can you believe this?

http://blogs.truckinweb.com/6209062/...ion/index.html

Crazy, they are thugs. Anyone have more info on this?
 
  #2  
Old 06-08-2007, 12:36 PM
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Default Re: OPEC Threatens Higher Prices from Biofuel Adoption

Sounds like a geat reason to adopt more biofuels and reducing the fossil fuel use even more.

Let them price themselves out of the market.
 
  #3  
Old 06-08-2007, 12:40 PM
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Default Re: OPEC Threatens Higher Prices from Biofuel Adoption

What did you expect? If declining demand causes prices to fall, producers will respond by cutting output to keep the price up. No different from farmers who plant less corn, wheat or whatever when prices are low and more when they're high. Economics 101.
 
  #4  
Old 06-08-2007, 01:19 PM
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Default Re: OPEC Threatens Higher Prices from Biofuel Adoption

I think that's biz 101. I don't see anybody *****ing about the higher price of food because of corn demand?
 
  #5  
Old 06-08-2007, 02:34 PM
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Default Re: OPEC Threatens Higher Prices from Biofuel Adoption

Originally Posted by carbnjunkie View Post
Can you believe this?

http://blogs.truckinweb.com/6209062/...ion/index.html

Crazy, they are thugs. Anyone have more info on this?
No. I don't believe it.

First: I think that the impact on the fuels market of biofuels is minor today so what is the risk, if any, to OPEC.

Second: If the biofuel threat is somehow real now or in the future, the response to maintain market share and thus profit is for OPEC to lower prices. Otherwise they will only increase the profitability of the competition.

I would love my competitors to raise their prices!
 
  #6  
Old 06-08-2007, 04:20 PM
Tofu+hybrd= crazy fun!
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Default Re: OPEC Threatens Higher Prices from Biofuel Adoption

That makes sense.
 
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