Sam - What? A conspiracy? Nah! I suspect there was more emphasis on and leeway with the oil crew under the Bush administration. Obama was pretty clear that energy prices would necessarily increase dramatically in order to move alternative energy forward. It would appear he is getting his wish for better or worse.
From an FASC perspective, higher gas and fuel oil prices are a good thing. More competition for other sources will help drive machine sales and the pps. FASC is in a great position (finally!) - right place and time.
Big oil is warming to biofuels.........but not necessarily an act of free-will.
"Under the Energy Independence and Security Act of 2007, U.S. refiners are required to blend increasing amounts of ethanol into the nation's gasoline supply. 15 billion gallons of corn ethanol are required to be blended by 2015 (from 10.5 billion in 2009), while advanced biofuels like cellulosic ethanol are not required to be blended in significant volumes for several more years."
"If we consider that the oil majors are not in the oil business, but rather, the infrastructure business --- and as long as they control the liquids that come out of the pumps, they won't care if it is made from petroleum or cow dung --- then we shouldn't be surprised that they are increasing their investments into biofuels."
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