I keep on promoting biofuels for several reasons. First, biofuels are the most practical alternative fuel for cars. Secondly, biofuels play a nice role in achieving oil independence. And finally, as biofuel production advances prices will come down significantly in comparison to oil. Did you see oil is now at $63/barrel?
Yesterday the WSJ reported that BP’s Thunder Horse oil field, providing 42% of its upstream production is one of few recent discoveries on that scale. Today, the NY Times reported that BP is working to make an experimental biofuel facility in Louisiana more commercially viable. Big oil companies are now getting deeper into the biofuel sector.
