Venezuela’s oil minister says biofuels are crazy and criminal. The only criminal act here is when governments interfere in the market to distort priorities by offering incentives to produce more or less biofuels.
Using crops to produce fuel is “criminal” as the world suffers a food shortage, Venezuela’s oil minister said in Rome where energy ministers from around the globe are meeting to discuss investment plans.
Funny how all the complainers quoted in the Bloomberg article are officials of OPEC member nations. Gee, wouldn’t they have a lot to lose if people replaced oil with biofuels?
