ASEAN Avoids Tough Issues, Touts Biofuel as Oil Fix

Southeast Asian nations pledged on Wednesday to pursue alternative energy to blunt the future impact of $60 oil, but sidestepped any political measures that might provide more immediate relief.

Energy officials from the Association of South East Asian Nations (ASEAN) touted biofuels — partially synthetic gasoline or diesel made from crops such as corn or sugar — as the best means of supplanting oil demand with a cleaner, domestic source.

“We accorded high priority to promotion of energy efficiency in the transportation and industrial sectors, as this may be one of the most economical and effective ways to mitigate the adverse impact of higher oil prices,” they said in a communique after the annual meeting.
Reuters