Shree Renuka says $100+ oil won't stimulate ethanol production

March 15, 2011 |

In India, the MD of Shree Renuka Sugar says that oil prices over $100 a barrel won’t be enough to encourage more ethanol production. He should know, since he now owns two Brazilian sugar mills. What will force the switch to ethanol, he says, is sugar coming down below 25 cents a pound. It’s currently trading over 28 cents a pound and hasn’t been below 25 cents since October.

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Category: Fuels

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