oil majors to help with ethanol target

The AFR reports that the oil companies will accept targets for biofuel use if it can boost consumer acceptance of ethanol.

Oil company executives pledged support provided three criteria are met:

1. Community acceptance of ethanol additive to petrol
2. Security of supply of ethanol.
3. Competitive pricing of ethanol.

This further enhances the opportunity for a local supplier of ethanol to progress in the Australian market.

For those unaware, Indcor (ICO) an Australian company listed on the ASX is strategically placed to take advantage of this new positive development.

IMHO, Indcor will be one of the stand-out stocks on the ASX in 2003.