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Argument: Corn ethanol is competitive against high oil prices

Issue Report: Corn ethanol

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  • John Biondi. “Anti-ethanol arguments are easily debunked.” Wisconsin Technology Network. August 1, 2006 – “Others believe that ethanol is viable only because the price of oil is at an all-time high. OPEC, they predict, will manipulate prices downward and ethanol will fall from its lofty heights. Ethanol is economically competitive when oil is $40 per barrel or above. Currently oil is at nearly $80 per barrel, China and India are just beginning their march up the consumption curve, and the situation in the Middle East is hotter than ethanol-charged Indy racing fuel.”
Does anyone think this will change anytime soon? I’m sure there is an Internet theory somewhere that postulates $35 oil, but even California Governor Arnold Schwarzenegger is converting his Hummers to biofuels.”