And we are supposed be scared?

It is funny when oil companies act like they are under siege from the growing ethanol business. Even though bio-fuels are quite a few years from making an impact, about a week ago the OPEC chief warned the west about researching on Bio-fuels. Now the US oil refineries are almost saying the same thing except in a subtler fashion. Bio-fuels or no bio-fuels, I have no illusions about oil prices coming down in the near future. Therefore, it is my belief that such warnings are going to be counterproductive. Just like the oil producing nations and oil companies are looking for their demand security, the rest of the world should look after its energy security.