I think it’s disastrous that there have been food riots around the world, especially when so many people blame ethanol and biofuels production for the lack of staples.
I can see hunger-crazed angry mobs smashing up any site remotely petro or biofuel related just to vent their frustrations. Get ready for a Mad Max kind of world. Unless the space aliens show up and give us some sort of wonderful, clean alternative form of energy, like maybe perpetual motion machines. I guess that's what everybody's wishing for.
Now then Ivan, I don't really see this contribution taking the story on any further. What do you think that the US should be doing in biofuels that it is not doing now?
US drivers are still on the roads at $4/gallon. European drivers are still on the roads at $8/gallon. Most US cities are designed for driving, not for public transport. Most European cities have excellent public transport, but many people still drive. The cost of driving a car in the US needs to rise dramatically - $15 or $20 gallon - and be kept there to generate genuine change. The part about keeping it there is political, though, and voters would quite rightly reject a measure of pain so the emerging economies could have their turn at motorized society.
So we will continue headlong into the Mad Max society. I hope I end up on the same side as Humungous.
How about if some of the remaning US car makers become bankrupt beause of competition from Japanese producers of more efficient vehicles?