Mark Vaile was reported in the AFR today as telling sugar farmers that this method of ethanol production would not be viable until new technologies arrived. What does he mean by this? With low sugar prices and high oil prices surely this is a viable industry. It seems to work in Brazil - why not here?
Perhaps this is just a reflection of the current government's kowtowing to foreign oil interests (as the AFR reported recently), or perhaps there is some higher reason they have yet to reveal. But I doubt it.
My sympathies to those who have invested in this industry. Hopefully the next government will not place the interests of middle-eastern sheiks, Russian oligarchs and multinational oil companies over those of Australian farmers, investors and motorists.
AAE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
