(Bloomberg) -- BlackRock Inc.'s Dan Rice, whose
natural-resources fund has beaten all but one rival in the past
five years, said petroleum prices may rise 14 percent to $80 a
barrel in the next 12 months because of tight supply and
proposed bans on food-based fuels.
China, the world's second-biggest producer of corn, said
this month it may ban the use of the crop and other edible
grains for ethanol production because of rising costs of food,
the Xinhua news agency reported on June 11. Only non-food crops
may be used for fuel under a proposed ethanol-production plan,
Xinhua said.
Read more at Bloomberg Energy News
natural-resources fund has beaten all but one rival in the past
five years, said petroleum prices may rise 14 percent to $80 a
barrel in the next 12 months because of tight supply and
proposed bans on food-based fuels.
China, the world's second-biggest producer of corn, said
this month it may ban the use of the crop and other edible
grains for ethanol production because of rising costs of food,
the Xinhua news agency reported on June 11. Only non-food crops
may be used for fuel under a proposed ethanol-production plan,
Xinhua said.
Read more at Bloomberg Energy News
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