For Local Biodiesel, Grease is the Word

This past weekend, the President of OPEC set a maximum on how high his organization would like to see the price of oil reach…

Reasonable prices should range “between $70 and $90 per barrel,” said [Chakib Khelil], who currently holds the rotating presidency of the Organization of Petroleum Exporting Countries.
Why is there a maximum, you might reasonably ask. Why doesn’t OPEC want prices to be as high as they can be? The answer, in part, is that people who have decided they don’t want to pay for super-expensive petroleum are beginning to create their own alternatives. Some of those efforts have already achieved an industrial-scale.
You can read about one such Newport-based group of innovators, in this week’s Providence Phoenix.

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15 years ago

Does anyone recall the measure Bush signed in a compromise with Congress to drill offshore? I think Congress agreed as long as they drilled like 50 miles offshore. Does anyone remember that a barrel of oil had hit $146 and immediately afterwards, oil prices started to come down in rather rapid fashion, well, as far as oil futures go.
I’m sure Obama will keep his pre-coronatio promise and rescind that order to help Khelil achieve his ideal pricing structure and throw in a little extra for good measure.

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