Move to biofuels must be done with caution

WARNINGS from OPEC that the massive rush to develop biofuels as a replacement for oil could drive the cost of fuel through the roof is a further reminder that the energy question will remain a hot topic indefinitely.

OPEC said that the rush in the West to develop the biofuel energy alternative would force it to reconsider its future investment plans.

The OPEC cartel accounts for 40% of global oil production and if it decides to do anything to damage future production the fear is that this would drive oil prices above where they are at present.