Experts: Oil companies' entry into biofuels market could boost sector

09/30/2009 | Farm Industry News

Valero Energy, ExxonMobil and other major oil firms are investing in research projects or making outright purchases involving alternative fuels, and such moves will help the biofuels sector succeed, experts said. The oil sector has been reluctant to get into biofuels because of issues including the debate over food versus fuel. Its continued involvement will depend "in part on the types of feedstocks that will be used," lawyer Todd Alexander said. Oil businesses and agricultural groups eventually "will find a balance that allows both interests to succeed," said Bob Dinneen, president and CEO of the Renewable Fuels Association.

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