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Controlling costs key to keeping biofuels competitive

RIVERSIDE, IA — While oil prices were trading in the low-$80s per barrel, renewable energy experts said biofuels, including ethanol, must be able to be competitive with oil at cheaper prices to take control of their destiny.

Ethanol needs to be able to compete with oil prices in the $30-$50 range, James Woolsey, former CIA director and now an advocate for renewable energy, said during the recent Renewable on Parade conference.
Sano Shimoda, a biofuels investment analyst with BioScience Securities, said,

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