What would have been the crude oil price now with out the limited production of biodiesel. It would have reached $150-200 per barrel.
Experts attending the two-day Plantation Investment Asia 2008 Conference here said that many richer countries may subsidise biofuel to keep crude oil prices in check. The present production of 4-5 million barrels of biofuel has helped to keep world crude oil prices at current levels.
Biodiesel industry is in for tough times following high prices of edible oils, the feedstock of biodiesel, which has made its production unviable in US and Europe. There is high overcapacity in many plants in these two regions.
Chris de Lavigne, Frost and Sullivan, Singapore and David Jackson of LMC International Ltd said biodiesel production was linked to political will. If politicians don’t encourage biodiesel production, the industry will not take off.
Commodity Online
News
Discussions
Resources
Members
What would have been the crude oil price now with out the limited production of biodiesel. It would have reached $150-200 per barrel.
