High Oil Prices Help Oil Production, But Not Biofuels

An International Energy Agency report says investments in oil technology will lead to a worldwide supply boom.

High oil prices were supposed to make biofuels and other oil alternatives more competitive. If only oil would stay above $80 a barrel (or $70 or $60), biofuels companies often say, then they’d have a market. Their technology for turning weeds into alcohol or pond scum into crude oil could really take off.

http://www.technologyreview.com/view/514896/high-oil-prices-help-oil-production-but-not-biofuels/?utm_campaign=newsletters&utm_source=newsletter-weekly-energy&utm_medium=email&utm_content=20130520