Survey: No Renewable Fuel Mass Production Soon

Despite massive government and private efforts to hasten the production of ethanol and other biofuels, many oil and gas industry executives say mass production of such renewable fuels is unlikely by the end of the decade, a new survey shows.

Sixty percent of the 553 petroleum industry executives surveyed by KPMG LLP said large-scale production of renewable fuels is not a near-term possibility, at least not by 2010. Of those who believesuch production is possible, 18 percent said the likely fuel is ethanol, 13 percent said biodiesel and 3 percent cited cellulosic ethanol, according to the e-mail survey.

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Sixty percent of the executives believe that the trend of declining oil
reserves is irreversible. And, when asked about the impact of emerging
markets, such as China, will have on declining oil reserves, almost 70
percent of the executives said that it would lead the situation to worsen.

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