We’ve tried, but we just can’t take it anymore!
Ethanol the death of Oil???
Now people have given many reasons why the price of has increased over time. Some say it is the devaluation of the dollar, supply is low, oil companies want to keep lining their pockets with consumers’ hard earned money, whatever. Chakib Khelil -- the Algerian energy minister and currently president of the Organization of Petroleum Exporting Countries, says that there are a number of reasons why gas prices are so high however a lack of supply was not one of them. He claims that the weak dollar is 60% of the reason, and the other 40% was because of bioethanol. There was no reason why ethanol would make up the 40% and there was none given by Mr. Khelil. Now I remember college economics, and if I remember correctly the addition of a substitute into the market would cause the cost of a good to go down, not up.
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