Time for alternatives
ENERGY SOURCES Cost of biodiesel rarely changes whereas that of crude oil changes constantly with the market
Re Tapping into new energy Sept. 17.
Rising fuel prices are finally giving attention to other energy alternatives. For years, I have read articles describing the environmentally friendly wonders that renewable resources offer. The only deterrence to such alternatives was the cost — something that would cut the revenues of corporations. Since the ecological reasons for biofuels have been thoroughly touted time and time again, I applaud your inclusion of the economical factors.
According to Natural Resources Canada, crude oil averaged $30 ( U. S.) per barrel in 2001. At that time, crude oil would have had to cost $60 ( U. S.) per barrel if biodiesel was to have a chance in competition ( Commission of the European Communities, 2001). Crude oil was $63 ( U. S.) per barrel, on Saturday. The cost of biodiesel rarely changes with time, whereas that of crude oil changes constantly with the market. Right now would be the best time for biodiesel and other alternative resources to compete. This not only saves money for companies with fuel needs, but opens an entire market for renewable resources ( products, research, etc.). Crude oil is finite and tied to governments and companies, thus its flexing with the times is understandable. However, biofuels can be independently man-made and man-grown, so that a competitive market can be created to keep prices low. The economical reasons for biofuels should be enough for corporations to consider, with the above as only a teaspoon of the possibilities. They can save things other than money, such as air quality ( e. g. soybean fields used to make biodiesel can help counter the carbon dioxide emitted), wildlife reserves and energy. The estimated rate of world oil consumption is 77 million barrels a day. The introduction of biofuels would reduce that and the need to look for more With the recent smog and heat alerts, combined with climbing oil and energy costs, now is the time for alternative resources. Maxine Wong, Toronto