OPEC wants you to believe that when you INCREASE competition, that prices will go UP. Ummmmm….
I have to admit I probably slept through a few of my early morning Economics classes, but even so, I know that when you INCREASE COMPETITION, you almost always LOWER PRICES.
So, in the absence of any reasonable argument to the contrary, I would assume that the reason OPEC is opposed to Ethanol and other BioFuels is because they recognize that BioFuels could one day put them out of business.
Check out the story here at www.goodfuels.org/opec.
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