World crude prices are threatening the global economy is the call from the International Energy Agency’s Chief Economist, Fatih Birol. In response, the Global Renewable Fuels Alliance (GRFA) is calling for the G20 to enact agressive biofuels policies that will reduce reliance on crude oil. Those hit hardest, says GRFA, are underdeveloped countries because at the slightest rise in oil prices, the impact on the balance of trade is devastating.
This past week, Birol warned that the global economy could be hit with another recession triggered by rising crude oil prices. Historically, high oil prices have preceded every global recession since the early 70’s. And dare we forget 2008 when the U.S. economy collapsed and many consumers have yet to feel relief from the recession.
GRFA says that world biofuels production is contributing over one million barrels of oil equivalent to global energy supplies and expects this to increase 3 percent this year without any major policy changes.
“We must do more to encourage the development of alternatives to crude oil such as ethanol and biodiesel,” said Bliss Baker, GRFA spokesperson. “The IEA has stated that by 2050, biofuels could produce 27% of the world’s transport fuels.”
The question people should be asking is will an increase in biofuels help to reduce oil prices? OPEC has publicly stated that “energy efficiency policies along with the use of biofuel will put more downward pressure on oil consumption worldwide.”
The only way to know for sure? Produce more biofuels.




Agriculture Secretary Tom
In stepping down as CEO, Broin says he wants to spend more time with his family and take on new challenges. “I will continue to be involved in strategic direction for the company as Executive Chairman of the Board, and leave the day-to-day operations to our very capable management team. I would not have done this had I not been convinced that the company would be in good hands. Under the leadership of Jeff Lautt and the entire management team at POET, I have confidence that the company will continue to lead the industry into the future.” Broin is married and has three children. In his more than two decades of leadership, POET has grown from 1 million gallons of ethanol that first year to an annual capacity in excess of 1.6 billion gallons.
“For the past 25 years, Jeff Broin has led POET and the entire ethanol industry,” said Lautt. “He has grown POET from one small plant to a leadership position in the global renewable fuels industry. With the help of the entire team at POET, I will do my best to continue building on the success the company has achieved.”

Oregon Governor John Kitzhaber took a tour of the 
