Renewable energy, including biodiesel and ethanol are making the big oil producing countries nervous… and that’s got to be a good thing.
This story in the New York Times quotes Saudi oil minister Ali Al-Naimi as trying to dismiss alternative energy, while praising non-renewable petroleum as “an enabler of progress and prosperity.” He cautioned that the current economic crisis — and the uncertainties over future oil consumption — could force producers to trim their supplies, and hence could cause a new price shock.
Mr. Naimi also offered his strongest public criticism against the drive for alternative fuels — which he referred to as “supplemental” energy — and the inconsistent policies of consuming countries. Although he never once mentioned either the United States or President Obama by name, these were clearly his targets.
But the readers of the Times aren’t buying this oil prince’s faulty logic. From the comments section of the article, I found that most people dismissed Al-Naimi’s argument almost as quickly as he dismissed the viability of biodiesel and ethanol.
From “Clif”:
When a seller is driven to praising his product the only thing it tells us is that he is looking to sell more of what he has to offer. The Saudis have far far more to lose from declining oil production than the world at large has to lose from any lack of flexibility in energy supplies.
From “Brennan”:
Pretty obvious he is going to try to scare people into using oil for centuries to come. The thing is right now it is supplemental for the most part but as technology increases his oil will basically not be worth anything because no one will really have large scale uses for it in the United States and a few other countries.
“T.Caine” said:
To me this is as unconvincing as it is unsurprising. Not that anyone can really blame him for making the pitch. It is only natural to fight for the survival of his country’s largest export and influx of capital, but that does not change the fact that oil is a finite resource and its use should begin declining.
Hmmm… nervous foreign oil producers worried that they’ll be replaced by American farmers. I like the sound of that!
Biofuels production in Canada will impact meat trading patterns according to research by Al Mussell, George Morris Centre, University of Guelph. He says that the increase in biofuels production will turn the country into an importer of grains instead of an exporter. Al was one of the speakers at the Transition To A Bio Economy Conference.
A very interesting presentation at our Farm Foundation Global Trade and Policy Issues conference had to do with the impact on poverty. Tom Hertel, Purdue University, was our presenter.
Former Texas Congressman Charles Stenholm was the moderator for our second session here at the Farm Foundation Global Trade & Policy Issues conference. I don’t think you’ll find anyone more knowledgeable about the policy side of this discussion.
Providing us with a “Technical Global Biofuels Analysis” here at the Farm Foundation Global Trade & Policy Issues conference was Thomas Alfstad, Brookhaven National Laboratory. 
Michael Schaal is with the Energy Information Administration which is part of the U. S. Dept. of Energy. He spoke early on the program at the Farm Foundation conference about the global outlook for energy. 
Both Chrysler and General Motors (GM) reportedly did not meet the terms of their Federal loans but they will be given a second chance to restructure and survive. This news is admist General Motors Chief Executive Rick Wagoner, who led the company for nine years, stepping down at the request of the Obama administration and Chief Operating Officer Fritz Henderson taking over.
“Let me say this as plainly as I can. If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired just like always,” Obama said in a speech today. “Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty.”
Today and tomorrow I’ll be covering the Farm Foundation, 
A proposed federally-owned “green bank” could finance many renewable energy projects, getting the credit markets for alternative energy moving again and spurring the burgeoning green economy.