buying opportunity, page-4

Interesting discussion just on Squawk Box regarding OPEC's views on the EU and USA's mandating of use of biofuels.

Discussion was around OPEC threatening to keep oil prices high if the West persists with artificial support of biofuels.

Interesting point is what this will do in regards to cause and effect. Will this threat encourage increased use of biofuels due to the relative cheapness of subsidised biofuels compared inflated mineral diesel, or will this threat discourage the further subsidisation of biofuels to the detriment of mineral diesel?