Are Bio-Fuels The Reason for Oil Prices Declining?

Everyone knows by now that the continued oil price decline has become crazy and that it may go as far as reaching $1 a gallon. A crazy thought yet is something that many will surely love to hear.
But isn’t it contradicting in a way? Imagine that earlier this year, most of us were talking of the shift to electric cars and bio-fuels. Many have done it while others were choosing to take public transport or better yet walk or use bicycles.
With that in mind, did the demand for bio-fuels really become a prime reason or a contributing factor towards the oil price decline? Some have pointed towards the faltering world markets that is only normal. Yet you have to wonder if bio-fuels have a hand in it as well.
Overall, you would have to think, if this was the case, eco-friendly efforts towards improving the carbon footprint and pollution problems are bound to be walking in between. As oil prices continue to drop, do remember that people also look towards cheaper means of transportation. If they can make do with using their old jalopies rather than spend and convert or buy new ones that cater to bio-fuels or hybrid cars, they why bother about being eco-friendly?










