Maccabee's Wars

A venting rage against the ills of our society with some hopeful observations.

Sunday, May 07, 2006

Judas Within Our Own Midst

Watching two reports on Dateline NBC and 60 Minutes about Ethanol 85 (E-85), a mixture of 85% ethanol and 15% gasoline, it seems that the oil crisis can be solved immediately.

What was disheartening was that venture capitalist Vinod Khosla expressed the long held sentiment that oil companies are keeping gasoline prices inflated for large profits.

Mr. Khosla expressed that E-85 could be made available for about $0.70 a gallon and that it would only cost a relative small pittance for oil companies to make it available. (Approximately $20 million in distribution costs vs. tens of billions in yearly profits.)

Mr. Khosla had been told by one oil executive to be very careful and to tread lightly. The executive was adamant in stating that the price of gasoline can be lowered to well below the price of E-85.

Imagine, pricing of gasoline going for well below $0.70 a gallon. It’s not the Arab petroleum producers we have to worry about but rather our own price gouging profiteers.

See the sites below for info from the two shows: