Reuters. In a keynote address at the annual meeting of the National Petrochemical and Refiners Association, Valero Energy CEO Bill Kless said that using corn to produce ethanol will make food so expensive in poor countries that it will cause more misery than global warming.
...Klesse blasted US policy makers, the US Congress, the press and environmentalists for conducting a “serious attack” on the oil industry while ignoring problems associated with ethanol.
“Where is the investigation into corn prices and farm prices and land speculation? Of course, that would not be politically acceptable,” Klesse said, noting oil companies routinely face scrutiny when fuel prices rise.
Ethanol offers no net reductions in emissions once the effort to make it is considered, nor do ethanol backers acknowledge the impact of using corn to make fuel rather than for feeding a growing world population, Klesse argued.
Valero Energy Corporation is the largest refiner in North America, with a throughput capacity of approximately 3.1 million barrels per day.