Commentary
2008.05.06 – The Renewable Fuel Standard (RFS) contained in the Energy Policy Act of 2005 mandated the use of corn-based ethanol in motor fuels. The recently enacted Energy Independence and Security Act accelerated this mandate to 9 billion gallons of ethanol in 2008 and 36 billion gallons 2022. Recent spikes in food prices, however, have led many to question the wisdom of these mandates and subsidies that encourage the use of corn and other sources of food for use as fuel. more »
Commentary
2008.05.06 – The continued rise in U.S. crude oil prices, which hit an all-time high above $122 a barrel on Tuesday, seems almost unending. Robust demand for crude and a weak dollar have fuelled the rally from a dip below $50 at the start of 2007 to fresh records almost every day. Adjusted for inflation, oil is now above the $101.70 peak hit in April 1980, according to the International Energy Agency, a year after the Iranian revolution.
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Commentary
2008.05.05 – As food riots in Somalia turned deadly, economists and elected officials in the United States and the European Union are revisiting the 'wisdom' of biofuel mandates. According to American economist Jeffrey Sachs, such mandates "do not make sense now in a global food scarcity condition." No kidding, Jeff. How 'bout their role in creating the scarcity to begin with?
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Commentary
2008.05.03 – Max Schulz of the Manhattan Institute's Center for Energy Policy and the Environment offers a compelling view into the foolishness of California's energy policies in today's Wall Street Journal. more »
Commentary
2008.04.16 – South Korea discovers massive gas hydrates off its shores, plans to become an energy producer. more »
