by Gary Truitt

This reminds me of the story of the adolescent who was charged with killing both his parents and then asked the judge for mercy because he was an orphan.
OPEC president Chakib Khelil has a new culprit for the rising cost of oil–ethanol. Mr. Khelil says about 40% of the recent rise in oil prices can be chalked up to ethanol, which accounts for about 1% of the world’s transportation fuel. The other 60%, apparently, is due to a weak dollar and “geopolitical worries.” The problem: OPEC’s boss doesn’t lay out the logic explaining why ethanol blended into gasoline is to blame for high oil prices.
The world ethanol industry was quick to respond to this nonsense.

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