interesting read for those interested, page-46

PeaceAKKI,

I don't think its pretence. There is a reason why oil prices have risen, and it's not merely speculation. The cheap oil is disappearing and we're having to look harder and deeper for it. It is getting more expensive to drill.

Brazilian ethanol cost competetiveness with oil:
http://en.wikipedia.org/wiki/Ethanol_fuel_in_Brazil
"According to Brazilian producers, ethanol can remain competitive if the price of oil does not fall below USD 30 a barrel"

Who knows, most of the Canadian oil sands may become long term economic soon, but that's a story for another time.