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Ethanol Takes A Bite out of Crude

Energy -- Ethanol is taking a bite out of crude oil, this according to a recent OPEC report. An article published in The National, says that rising ethanol use in the United States is dampening demand for petroleum based fuels and this will be felt even more during the next few months.

Next week, OPEC ministers are getting ready to meet in Vienna, and last month OPEC participated in a preliminary report that estimates that $500 billion a year could be spent yer year on fossil-fuel based subsidies. In its latest monthly oil market report issued two days ago, the organization’s secretariat drew attention to an eight-fold increase in U.S. ethanol consumption since 2000. This use should grow as the E15 waiver, which allows consumers the choice to use up to 15 percent ethanol in conventional cars is e

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Submitted Mar 12, 2010 By: stpetebp

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remay Champion Author Houston Posts:4,696 Points:1,654,720 Joined:May 2006	Message Posted: Mar 13, 2010 9:47:00 AM Ignore remay Report Abuse and the price will go up...
Nicoalbum Champion Author Ottawa Posts:3,576 Points:722,260 Joined:Jan 2010	Message Posted: Mar 12, 2010 7:31:45 AM Ignore Nicoalbum Report Abuse I am happy that ethanol makes its way through.
gabckmyr Sophomore Author Michigan Posts:119 Points:207,480 Joined:Jan 2007	Message Posted: Mar 12, 2010 7:14:38 AM Ignore gabckmyr Report Abuse Ethanol continues to do what it was intended to do, reduce the demand for imported oil. That's it. Not replace gasoline.
the1roadhog Champion Author Atlanta Posts:7,703 Points:1,593,630 Joined:Jun 2007	Message Posted: Mar 12, 2010 6:36:34 AM Ignore the1roadhog Report Abuse NatGas is a better alternative and more plentiful.
madison8359 Champion Author Cleveland Posts:5,731 Points:1,126,665 Joined:Apr 2008	Message Posted: Mar 12, 2010 6:35:54 AM Ignore madison8359 Report Abuse Although it is generally difficult to take anythiNG these OPEC thieves say, there is ample evidence that ethanol is gainiNG some traction both here and abroad. Their main interest is in makiNG money and stoppiNG anythiNG that reduces their ability to do that. Keep conserviNG, find alternatives and use more NG.