Cliff May: The Disinformation Age: OPEC Lies, the SUV Dies

Do you personally know a young voter who has been sucked into Obamamania? Yes, but I'm trying to save them Yes, and they are a lost cause The folks over at OPEC, the Organization of Petroleum Exporting Countries, must think we’re pretty stupid. The other day, Chakib Khelil, the current OPEC president, asserted that "the intrusion of bioethanol on the market" is responsible for 40% of recent increases in the price of oil. Now how exactly would that work? How does growing sugarcane in Brazil or corn in Iowa push up the price of oil sucked from holes in the ground in Saudi Arabia, Iran and Venezuela? If we roasted the corn and put the sugar in coffee -- instead of making it into alcohol fuels -- would oil prices go up less? And if mixing a little ethanol in with gasoline has caused much of oil’s latest price rise, does it follow... [read full story]