Continuing my rant from the “Who Murdered Cheap Oil” entry…
World demand for liquid fuels keeps increasing. This is what is driving the development of biofuels. Again, it is not due to an effort to reduce CO2 production that is driving biofuels worldwide. That a few environmentalists has attached themselves to the concept of biofuels *late in the game* will not significantly encourage more biofuel production than the market is already demanding.
Today the IEA came out their lates Oil Market Report (http://omrpublic.iea.org/ ) in which they show April demand for “oil” (their term, which more accurately should be called “all liquids”, because they include biofuels) to have pushed to a new record, well above 88 million barrels per day, while the average first quarter supply was just over 87 million barrels per day.
So, as long as demand keeps pushing up to new highs, and the supply is inadequate, there will be a force to produce new biofuels.
Finally, I missed the part about Polar Bears. Was the term “Polar Bears” just thrown into the title as a throw-away, or did part of the essay get cut?
