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Gas Prices * USA - Biofuels may boost they
Development of biofuel alternatives such as ethanol is causing some uncertainty in refineries’ output
New York,NY,USA -The N.Y. Times -24 May 2007: -- Continued record high gasoline prices may become a trend, due in part to an expansion in biofuel development, according to some oil executives... Oil executives told Congress last year they planned to expand refinery output by 1.6 million to 1.8 million barrels per day over the next five years, an increase of 10%... But those plans have since been scaled back to 1 million barrels a day, according to government figures, the paper said.... Refining shortfalls have been cited as at least a partial cause of the recent of the recent record prices, with gasoline’s most recent record set Monday at $3.218. Diesel’s national price Monday was $2.803, according to the Energy Department...
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posted by Unknown @ 10:23 AM
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